Kazakhstan's Tokayev proposes higher tax rate for wealthy

Kazakhstan President Kassym-Jomart Tokayev has proposed raising the tax rate for the wealthy. He announced this on October 28 in an address to the nation.

In his address, Tokayev addressed the fairness of taxation. He said it was time to discuss applying a higher rate to large property owners, stressing that no one intends to restrict assets legally acquired. He argued that doing so would contradict the Constitution, because the issue is one of fairness.

The president said every citizen should make an honest contribution to the country's development according to their means. He instructed the government and the Kurultai to study the issue and submit proposals. Tokayev said fair taxation requires transparency, meaning full digitalisation, and that advanced technologies such as artificial intelligence should be used to increase tax collection, reduce the shadow economy and lower corruption risks.