Kazakhstan: Tokayev calls for targeted package of tax code amendments

President Kassym-Jomart Tokayev spoke about improving tax policy in his Address to the people of Kazakhstan, according to Egemen.kz. He said the new Tax Code provides a basis for comprehensive modernisation of the entire system. However, he noted that businesses are facing difficulties applying certain norms, and that some issues are hard to predict during such a large-scale reform.

Tokayev said the Tax Code is neither an unchangeable rule nor a sacred book and should not be divorced from reality. He called on the Government to listen to business representatives and prepare a package of specific, targeted amendments to tax legislation. He stressed that the tax system should not discourage business growth, investment or job creation.

On fairness, Tokayev said it was time to discuss higher tax rates for large wealth owners, but no restrictions would be placed on legally acquired property. He called for full digitalisation of the tax system, including artificial intelligence, to reduce the shadow economy and corruption risks. Earlier, he instructed the Government to raise the minimum wage from 85,000 to 110,000 tenge.