ALMATY : Kazakhstan could support fiscal consolidation by raising some tax rates including VAT and may need to further raise interest rates, the International Monetary Fund mission to the Central Asian nation said on Wednesday.
But in order to reduce its dependence on oil revenue, the country should consider raising those taxes, IMF mission head Nicolas Blancher told a briefing. "On the tax side, we believe there is scope to adjust taxation... we think in particular there are potential benefits to broadening the tax base, to eliminate some tax exemptions, but also to raise some tax rates, in particular the VAT."
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