Deputy Minister says VAT rate to generate KZT3.7trl in additional revenue for fiscal year 2026 budget
Kazakhstan’s state budget revenues are projected to reach 19.2 trillion tenge in 2026, equivalent to 10.5% of GDP, Deputy Minister of National Economy Azamat Amrin said on Thursday, Kazinform News Agency correspondent reports.
Compared with this year’s estimate, revenues are expected to increase by 4.7 trillion tenge, driven mainly by tax legislation changes – 3.7 trillion tenge, economic growth – 1.5 trillion tenge, as well as other factors – 0.3 trillion tenge.
Overall, revenues are forecast to decline by 0.8 trillion tenge.
The largest share of tax revenues comes from value-added tax (VAT) and corporate income tax. Under the new Budget Code, the forecast also takes into account the transfer of certain taxes, duties, and fees from the republican budget to local budgets, as well as the introduction of a new category of revenues — ‘special receipts,’ which include subsoil users’ contributions to R&D, said Amrin.
Non-tax revenues are projected at 330 billion tenge, while special receipts are expected to total 20 billion tenge. Overall, the share of the republican budget covered by its own revenues is expected to rise from 63.7% in 2025 to 83.5% in 2028.
Earlier, it was reported Kazakh President Kassym-Jomart Tokayev on Tuesday held a meeting with the Chairman of the Financial Monitoring Agency.