Kazakhstan talks on implementing tax on wealth

Business Materials 18 June 2018 14:01 (UTC +04:00)

Baku, Azerbaijan, June 18

By Fikret Dolukhanov – Trend:

Kazakhstan is not currently planning to introduce a tax on wealth, Kazakh media reported citing Minister of National Economy Timur Suleimenov addressing the meeting with the population.

The minister considers it appropriate to impose the tax not on wages, but on easily administered objects, such as transport, property and land.

“As for the tax on wealth - a few years ago we had a fairly strong tax on large volume vehicles. In fact, a bigger volume means a higher cost, so those owning such vehicles can be charged more,” Suleimenov noted.

He said that it is easier to administer such objects of taxation as land, property and vehicles, as they are registered in state cadastres and are regulated by the Ministry of Justice and the Ministry of Internal Affairs.

“The tax on wealth, in my opinion, should be collected not from wages, but from objects that are easier to administer. But again, we should approach this very carefully. We are studying international experience and are trying to apply it to our realities. We do not plan to introduce any concrete changes on this issue this year,” the minister concluded.


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