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Kazakhstan budget to lose 70 billion KZT since beginning of Customs Union work

22.02.2010, 12:44 2226

Astana. February 22. Kazakhstan Today - The Kazakhstan budget, according to the preliminary data, will lose 70 billion KZT with the beginning of the work of the Customs Union of Kazakhstan, Russia and Belarus. Majilis deputy, Gulzhana Karagusova, informed during the governmental hour in Majilis of Parliament of Kazakhstan, the agency reports.

"The customs duties form a solid share of the income of the budget of each state. For example, in Russia, it totals about 52 % of all income of Kazakhstan. In Kazakhstan, with the introduction of the Customs Union, the losses of customs budget receipts will total about 70 billion KZT, according to the preliminary data," G. Karagusova said.

"We need to search some alternative sources of replenishment of the budget."

"The Ministry of Finance will probably need to reconsider the existing tax customs administration," she said.

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