Monthly earnings exceeding 3 million tenge for Kazakhstani individuals
All right, let's get down to business. The Kazakhstani government is planning to increase taxes for higher-income earners, according to the Ministry of National Economy. Here's the lowdown:
Vice-Minister Azaimat Amrin confirmed that the proposed Tax Code will introduce a progressive taxation system based on salary. This means, for instance, folks raking in less than 33.5 million tenge annually (around $65,515) will fork over 10% in taxes. Those earning above that chunk of change will need to cough up a generous 15%.
But fret not, tax-paying citizens! There's a silver lining. The new system is set to roll out a monthly tax exemption of 123,800 tenge ($239) starting in 2026, providing some tax relief for Kazakhstan's citizens.
Intrigued by what this means for you? Well, if your annual salary hits up to 33.5 million tenge, you'll be paying 10% in taxes. Beyond that, you'll be handing over 15%. With this new system, the government aims to beef up its tax revenue and establish fairness in the tax structure.
Curious about where Kazakhstan stands in terms of average salary within the EAEU, or how its salary figures translate when converted to dollars? We've got you covered - check out our previous articles for more insight.
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- The Kazakhstani government's proposed Tax Code, confirmed by Vice-Minister Azaimat Amrin, will implement a progressive taxation system, basing taxes on salaries.
- Under this new system, individuals earning less than 33.5 million tenge annually will pay 10% in taxes, while those earning more will pay 15%.
- To offer some tax relief, the new system will introduce a monthly tax exemption of 123,800 tenge starting in 2026.
- This progressive taxation system aims to increase the government's tax revenue and establish fairness in the tax structure.
- To learn more about Kazakhstan's average salary in the EAEU, or how it translates to dollars, explore our previous articles for in-depth information. Don't forget to subscribe to our Telegram updates to stay informed about relevant general-news, business, finance, politics, and taxation updates.
