The new Tax Code of Kazakhstan provides for the introduction of a "luxury tax" for expensive objects and goods. It was announced at the plenary session of the Majilis by Deputy Prime Minister of Kazakhstan Serik Zhumangarin, El.kz reports.
As part of the first reading of the draft code, the minister announced plans to introduce increased rates of property taxes and excise taxes for certain categories of owners.
In particular, property tax will be increased in relation to real estate worth over 450 mln tenge. It is also proposed to introduce excise taxes on cars worth over 75 million tenge, sea vessels and aircraft of a higher class.
"We propose the so-called 'luxury tax' - this is a mechanism for a fair redistribution of the tax burden. It will affect only the wealthy segments of the population and will not affect the majority of citizens," Zhumangarin said.
In addition to this, it is proposed to introduce an excise tax of 10% on expensive alcoholic beverages and cigars. Such an approach, according to the minister, meets the international practice and the principles of social justice.
The new tax mechanism will be part of a comprehensive tax reform aimed at expanding the revenue base of the budget and equalizing the fiscal burden depending on the level of income and asset ownership.
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