Kazakhstan’s President Proposes Higher Taxes for Wealthy Citizens

Kazakh President Kassym-Jomart Tokayev has instructed officials to study the possibility of introducing higher tax rates for owners of substantial assets. He announced the initiative in his address to the nation on October 28.

According to the president, the tax system must be fair, with every citizen contributing to the country’s development in proportion to their financial capacity. Tokayev stressed that the aim is not to restrict wealth acquired legally, but to establish a fairer tax system. He instructed the government and the Kurultai to examine the issue and submit relevant proposals.

The president also emphasized the need to increase tax revenues, reduce the shadow economy, and mitigate corruption risks. To achieve these goals, he proposed fully digitalizing the tax system and making use of advanced technologies, including artificial intelligence.

It has not yet been announced which categories of citizens would be subject to the higher tax rates, how much the rates would increase, or who exactly would be affected. The proposal is still under consideration.