2023-06-15 12:45:44
Luxury tax will be introduced in Kazakhstan next year. This was done by the Minister of Economy Alibek Kuantirov said. This norm will work after the changes to the Tax Code.
Rates are likely to rise for those who own two or more properties, luxury cars and belongings. Some experts say that with the help of this tax, the Kazakh authorities are trying to fix the gaps in the budget without resorting to transfers from the National Fund.
Kazakhstan now has a fixed income tax rate. Every citizen is obliged to pay 10 percent of his income to the state, regardless of his income. This is one of the lowest indicators in the world. In addition, the Value Added Tax is 12 percent, which is not considered a high burden. The authorities and a number of experts believe that the luxury tax can reduce the level of inequality in society: this is the reason for the social tension now.
True, no one guarantees that rich people will not start thinking of gray schemes to avoid being considered rich with the introduction of the new tax and to transfer the property to relatives.
“You can find such a loophole that you conditionally write the house in the name of some poor relative who has no official income. What will he pay accordingly? He won’t pay anything.”– economist Arman Beysembayev explains.
He goes on to say, “In our institutionally inefficient environment, it is likely that our rich people, as an untouchable caste, will not pay these increased taxes.”
In 2025, the economy of Kazakhstan is planned to be fiscalized: every citizen will be required to submit a tax return. It is said that this was also done to make the tax system more efficient. However, some experts, such as analyst Andrey Chebotarev does not rule out that tariffs may increase not only for the rich, but also for all other citizens: everything will depend on filling the budget.
Freedom radio
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