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A proposal to apply an additional 4% tax on entrepreneurs' cash withdrawals
A proposal to apply an additional 4% tax on entrepreneurs' cash withdrawals
It has been proposed to apply an additional 4% tax to entrepreneurs who withdraw funds in cash exceeding the limit defined by legislation. This was stated by Gudrat Hasanogluyev during today's Milli Majlis session while discussing amendments to the Tax Code.
He noted that entrepreneurs already find different ways to do this, using certain companies and losing part of their income in the process:
“Therefore, let an additional 4% tax be applied; they themselves agree to it. If we implement this, the funds will go to the budget instead of certain companies.”
It should be noted that under current legislation, entrepreneurs may withdraw up to 15,000 manats in cash per month. (Apa)
It has been proposed to apply an additional 4% tax to entrepreneurs who withdraw funds in cash exceeding the limit defined by legislation. This was stated by Gudrat Hasanogluyev during today's Milli Majlis session while discussing amendments to the Tax Code.
He noted that entrepreneurs already find different ways to do this, using certain companies and losing part of their income in the process:
“Therefore, let an additional 4% tax be applied; they themselves agree to it. If we implement this, the funds will go to the budget instead of certain companies.”
It should be noted that under current legislation, entrepreneurs may withdraw up to 15,000 manats in cash per month. (Apa)