President signs Tax Code of Kazakhstan
Head of State Kassym-Jomart Tokayev has signed the Tax Code of Kazakhstan and the Law “On amendments to some legislative acts of the Republic of Kazakhstan on taxation,” Kazinform News Agency learned from the Akorda press service.
The new Tax Code provides for large-scale simplification of tax administration: the volume of tax reporting is reduced by 30%, the number of taxes decreases by 20%, preferences and levies are optimized.
All of the key areas – from corporate and individual income tax to investment promotion and tax burden redistribution - underwent significant changes.
According to the new Tax Code, VAT rate is set at 16%.
For pharmaceuticals and medical services VAT rate is set at 5% from 2026 and at 10% from 2027.
VAT rate for the sale of periodical print publications is set at 10%.
The threshold for mandatory VAT registration has been reduced to 10 thousand MCI or 40 million tenge.
Earlier it was reported that Prime Minister Olzhas Bektenov explained the need to raise VAT rate in Kazakhstan.
