Majilis Approves Draft of New Tax Code in First Reading

The Majilis has approved the draft of Kazakhstan’s new Tax Code in its first reading, Orda.kz reports.

Most deputies voted in favor, while seven opposed the draft and ten abstained.

Key changes include lowering the VAT registration threshold from 78 million to 40 million tenge and increasing the VAT rate to 16%. The government had initially proposed a lower threshold of 15 million and a higher rate of 20%, but these suggestions did not gain parliamentary support.

Original Author: Zhadra Zhulmukhametova