ASTANA – President Kassym-Jomart Tokayev signed the law on amendments and additions to the Tax Code on July 15, reported Akorda. The changes will soon officially come into force.
Photo credit: Akorda
The document, as emphasized by the Ministry of National Economy, is not a new Tax Code. It refers to amendments and additions to the current Tax Code adopted in 2017.
The new Tax Code is still awaiting signature.
The key proposals of the new Tax Code raise the value-added tax (VAT) rate from 12% to 16% and increase the mandatory VAT registration threshold from 15 million (US$28,529) to 40 million tenge (US$76,078).
In the healthcare and social sectors, the changes introduce reduced VAT rates for medicines and medical services – 5% starting in 2026 and 10% from 2027.
Certain items, including guaranteed medical care, health insurance, treatments for orphan diseases, socially significant goods, and domestic books, will remain exempt from VAT.
The amount of VAT offset for agricultural producers will be increased to 80%.
Earlier, The Astana Times wrote in detail about the proposed amendments to the Tax Code and their impact.
