- in European Union
- in European Union
- in European Union
- in European Union
- in European Union
- within Tax, Technology and Finance and Banking topic(s)
During the extended government meeting chaired by Pr. Kassym-Jomart Tokayev on 28 January 2025, Prime Minister Olzhas Bektenov announced there is a need to the increase the VAT rate. Currently, the Tax Code of the Republic of Kazakhstan provides for the VAT rate of 12%, with exceptional zero VAT rate for certain types of activity.
On 07 February 2025, President Tokayev instructed the government to further study the issue of the value-added tax (VAT) rate. According to his instruction, any innovations should be carried out on the basis of a comprehensive analysis and a well-thought-out strategy. President believes that it is necessary to work out different options that take into account the specifics of economic sectors. Thus, the potential increase of VAT from 16 to 20% are widely discussed in the business and political sphere. Due to amid growing criticism of government suggestion, the President of Kazakhstan suggested the differentiated tax rate, taking into account tax incentives for specific industries.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
