IMF Says Tax Reform Key To Boosting Revenue Diversification In Kazakhstan

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 30. The tax reform and the Tax Code being developed in Kazakhstan are a positive step that will allow the country to diversify its sources of revenue, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said during an online briefing, Trend reports.

Jihad Azour noted that reforming the tax system will help expand the state's revenue base, reduce tax loopholes, and improve administration efficiency through automation and digitalization.

"For oil-exporting countries in the region, and especially for Kazakhstan, strengthening fiscal institutions and diversifying revenues is crucial. This will make the tax system more neutral and resilient to external shocks," Azour emphasized.

He also noted that Kazakhstan has significant potential for economic growth beyond the oil and gas sector. According to him, particular attention should be given to technology, the financial sector, and areas linked to regional integration.

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