Kassym-Jomart Tokayev proposes higher tax rate for wealthy individuals

President Kassym-Jomart Tokayev has proposed considering a higher tax rate for wealthy individuals during his annual Address to the People of Kazakhstan, 24KZ reports.

He tasked the Government and the Kurultai with studying the proposal and submitting recommendations, stressing that legally acquired assets would remain protected.

The President also called for targeted amendments to tax legislation to remove ambiguous provisions and ease excessive burdens on businesses.

Tokayev said the tax system should encourage business growth, investment and job creation. He also urged greater use of digital technologies, including artificial intelligence, to improve tax collection and reduce corruption risks.