Kazakhstani President Kassym-Jomart Tokayev has proposed discussing the idea of introducing higher taxes for those with large fortunes.
“I would like to dwell specifically on the issue of tax fairness. I believe that the time has come to discuss the introduction of a higher tax rate for those with large fortunes. I emphasize that no one intends to limit legally acquired assets in any way. This would contradict the very constitution,“ he said in his address to the people of Kazakhstan.
The president noted that “we are talking about a proportional, fair contribution of each citizen to the development of the country“ and fairness. “The government and the Kurultai (parliament) will have to study this issue and make proposals. Fair taxation requires transparency, which means full digitalization. We must use modern technologies, including artificial intelligence, to increase tax collection, reduce the shadow economy and mitigate the risks of corruption,“ said the president.
He also noted that the new Tax Code, adopted in 2025, is not a “holy book“ and that other amendments should be made to it, taking into account the interests of business, to facilitate the activities of enterprises. “This should be done in a thoroughly verified manner so as not to constantly change the rules of conduct for entrepreneurs. Our legislation is so cumbersome and difficult to understand that it has become a real headache for entrepreneurs,“ said Tokayev.
Currently, Kazakhstan has a 10% personal income tax for citizens. A higher rate of 15% applies to individuals with higher incomes (over $80,000 per year, but only on amounts above that threshold). Owners of luxury real estate and other high-value assets may be subject to a special excise tax.