Kazakhstan likely to abolish taxes on innovation grants

Kazakhstan proposes elimination of taxes on innovation grants, Kazakhstan Today reported referring to the National innovation Fund.

During the meeting of the working group on proposing regulatory legal acts to stimulate the commercialization of intellectual property the director of French company Lindholm-Consult Peter Lindholm said Kazakhstan should abolish taxes on innovation grants.

According to the majority of European practices, grants for innovative programs are exempted from taxes,” Lindholm said. “I think that the Kazakh system must take into account this practice. Taking into account that grants come from the state budget it is unusual in some extent to impose taxes on grants. In addition, the taxation of grants reduces the effectiveness of the programs.”

Chairman of the Board of the National innovation Fund Saule Bishimbayeva spoke about legislative measures to promote the commercialization of technology.

According to Bishimbayeva, the experience of developed countries, including the U.S., is indicative in the commercialization of intellectual property.

She called upon to make a number of amendments to legal acts, which would generally support development of technology commercialization.