President Kassym-Jomart Tokayev believes Kazakhstan should discuss a higher tax rate for individuals with large fortunes.
«I’d like to specifically address the issue of tax fairness. I believe it is time to discuss introducing a higher rate for those who possess large fortunes,» he said in his address to the nation.
The president emphasized that the government has no intention of restricting legally acquired assets.
«Doing so would contradict the Constitution. This is about a fair contribution from every citizen toward the development of our country. It is a matter of fairness,» he said.
Tokayev noted that the government and the Kurultai have been tasked with examining the issue and putting forward proposals.
He also argued that tax fairness requires transparency, which in turn requires full digitalization. In this regard, he proposed using advanced technologies, including artificial intelligence, more actively within the tax system.
Kazakhstan has discussed introducing a «luxury tax» on several previous occasions.
Currently, the country has no separate luxury tax. However, starting in 2026, higher taxes and excise duties apply to certain high-value assets. Real estate valued at over $983,858 is subject to a 2% tax rate. A 10% excise duty also applies to automobiles valued at 18,000 MCI (monthly calculation index) or more, as well as yachts and aircraft valued at 24,000 MCI or more.
Additionally, a progressive personal income tax (PIT) scale took effect in 2026, under which a 15% rate applies only to the portion of annual taxable income exceeding 8,500 MCI ($80,375 in 2026).
