Kazakhstan elaborates luxury tax mechanisms

19 July, 2018, 09:11 247
Kazakhstan elaborates luxury tax mechanisms

The authority informed some points of luxury tax are under development yet.

“The luxury tax mechanism is being worked out in Kazakhstan,” Deputy Chairman of the Committee of State Revenues of the Ministry of Finance of the Republic of Kazakhstan Madi Takiyev stated during a press conference BNews.kz correspondent reports.

Partially the luxury tax mechanism is realized. There is no discount for disabled people owning cars with an engine capacity of more than four liters, and the tax rate is increased several times compared to other cars. As for the property the situation is analogue. Due to high cost of the property the rate taxes also be higher. The ministry elaborates some mechanisms yet.

Earlier, Minister of National Economy of Kazakhstan Timur Suleimenov said the tax on luxury should cover property of wealthy people, instead of salary.  The minister noted that the luxury tax is similar to the tax introduced a few years ago for cars with a large engine volume.