Outcomes of the 26th Meeting of the Project Office: Development of Cashless Payments and Updating By-Laws for the Zero MET Rate
The latest, 26th meeting of the Project Office provided an opportunity to revisit two practical topics that directly affect businesses in Kazakhstan: the further development of cashless payments and the preparation of by-laws required for the application of the zero mineral extraction tax (MET) rate. Both areas share a common rationale—to make regulation clearer for entrepreneurs and align the provisions so that the rules work in practice, not only on paper.
Why Cashless Payments Are Back on the Agenda
The development of cashless transactions has long ceased to be a narrow issue concerning payment services and has become an element of general economic policy. An increase in the share of cashless payments improves transaction transparency, simplifies revenue accounting, and reduces the costs associated with cash circulation. For an entrepreneur, this means more convenient payment acceptance tools, while for the state it means a more complete picture of trade turnover.
When such matters are brought before the Project Office, the aim is generally to align the interests of the various parties: businesses, banks, payment operators, and regulators. In practice, several points are important for entrepreneurs:
- how cashless payment acceptance is organised and what technical solutions are available;
- how to properly record cashless revenue in the accounts;
- what requirements apply to recording transactions and retaining payment data.
Even without details of the specific decisions made at the meeting, the very fact that this topic receives ongoing attention is a signal for businesses to arrange their processes in advance so that the share of cashless payments is supported both technically and from an accounting perspective. This reduces the risk of last-minute pressure when requirements change and makes the transition to new tools smoother.
Zero MET Rate: Why By-Laws Are Needed
The second topic of the meeting was the updating of the by-laws required for the application of the zero MET rate. It is important to understand how this works: the availability of a preferential rate is established by law, but detailed documents are required before it can actually be used. By-laws usually determine the procedure for applying the provision, the list of conditions, and the requirements for supporting documents.
Until such acts are adopted or brought into line with the provisions in force, taxpayers face practical uncertainty: the right to the benefit appears to exist, but the procedure for exercising it has not been fully specified. Therefore, updating the framework of by-laws is not a technical formality but a prerequisite without which the benefit cannot become fully operational.
For subsoil users and related companies, this means that they should closely monitor the publication and entry into force of the relevant documents. By-laws usually address the following key questions:
- the conditions under which the zero rate applies;
- the documents that confirm the right to apply it;
- the procedure for reporting transactions in tax returns.
What This Means for Businesses in Practice
Both topics discussed at the meeting share one idea: regulation is moving towards greater certainty, but implementation depends on the timely issuance of detailed documents. A sensible strategy for entrepreneurs is not to wait until the last moment for the provisions to be finalised, but to keep their processes ready.
For cashless payments, this means preparing accounting and technical solutions for accepting and recording cashless revenue. For MET, it means monitoring the framework of by-laws and checking in advance whether the company meets the conditions under which the preferential rate becomes applicable.
The value of the Project Office as a platform should also be emphasised. Regular meetings make it possible to identify bottlenecks before they become a problem for businesses and to adjust the regulatory framework in light of actual practice. For companies, this is an opportunity to anticipate the direction of changes and plan their activities several steps ahead.
Conclusions
The outcomes of the 26th meeting of the Project Office show that the focus remains on practical matters: expanding cashless payments and creating the conditions for the actual application of the zero MET rate by updating by-laws. The main practical conclusion for businesses is to monitor the issuance of detailed documents and adapt their internal processes in advance. This approach reduces risks, saves resources, and makes it possible to take advantage of the opportunities provided without haste or errors. As specific regulatory documents are issued, it makes sense to review accounting and tax procedures against them to ensure that the new rules are applied correctly.