ASTANA, Kazakhstan, April 9. Serik Zhumangarin, Deputy Prime Minister and Minister of National Economy of Kazakhstan, announced that as part of the country’s tax reform, a proposal is on the table to impose higher taxes on certain luxury goods, a measure referred to as the “luxury tax,” Trend reports.
The proposal includes raising property tax rates on real estate valued above 450 million tenge (approximately $855,000). Additionally, excise taxes would be applied to passenger cars worth over 75 million tenge (approximately $142,500), as well as on high-end yachts and aircraft.
In the interest of fairness, a 10 percent excise tax would also be introduced on expensive alcoholic drinks and cigars.
Zhumangarin also mentioned that, as part of efforts to support
the social sector and healthcare, a list of medicines exempt from
VAT will be established. He added that only paid medical services
would be subject to VAT, with a tax rate of 10 percent.
Today, at the plenary session of the Majilis of the Parliament of
Kazakhstan, the Deputy Prime Minister - Minister of National
Economy, Serik Zhumangarin, is presenting to the deputies the first
reading of the Tax Code draft and the accompanying legislative
amendments on taxation issues. The document proposes to update the
structure of taxes, redistribute the tax burden, and strengthen
control over the provision of benefits.
