Minister of Finance, Madi Takiyev, announced during a government press conference on March 19th that they are considering raising the threshold for monitoring mobile transfers to 1.5 million tenge. Currently, tax authorities monitor transfers based on two criteria: more than 100 transfers within three months.
Takiyev stated that they are discussing adding a third criterion, with the amount exceeding 255,000 tenge. The Minister highlighted the increasing number of individual entrepreneurs registering for mobile transfers, indicating a trend towards legitimizing previously shadow economy activities.
He emphasized that discussions with banks have led to a decrease in cash transactions, with people shifting back to mobile transfers. Takiyev noted that any amount exceeding 255,000 tenge over three months and 12 times the minimum wage must be registered as an individual entrepreneur.
In a related development, Minister of National Economy, Nurlan Baibazarov, proposed amendments to the monitoring criteria. The suggested change includes receiving funds from 100 or more individuals into a bank account, totaling over 3 times the minimum subsistence level or 255,000 tenge within three consecutive months.
On March 6th, members of the "Ak Zhol" faction proposed increasing the threshold for monitoring mobile transfers by Kazakh citizens to 1.5 million tenge.
