Majilis Approves Senate’s Amendments to New Tax Code

The bill will now be sent to the President for signature, Orda.kz reports.

Speaking at a session of the chamber, Deputy Berik Beisengaliyev noted that the main provisions of the legislation remain unchanged. The Senate introduced clarifications, adjustments to deadlines, and refinements to the wording. In total, more than 160 amendments were proposed.

Key Changes Introduced

The Majilis initially passed the new Tax Code in April. The upper house has since made several additions, including:

• Introduction of a progressive tax system for farmers
• Tax breaks on dividends from stock exchange transactions
• VAT exemptions for certain banking and social services
• Excise duties on luxury goods (such as cars, yachts, and airplanes) sold domestically
• Incentives for businesses that employ people with disabilities

The stricter rules will not take effect before January 1, 2026. In addition, property transferred free of charge to farms will not be subject to taxation.

With both chambers now in agreement, the bill is considered fully adopted and awaits the President’s signature.

Original Author: Artem Volkov