Amendments to the Tax Code of the Republic of Kazakhstan: VAT Increase and New Taxation Conditions
On February 27, 2025, the Ministry of National Economy of Kazakhstan presented amendments to the draft Tax Code in the Majilis.
Among the Key Changes
- Increase in the VAT rate. The generally established rate of value added tax increases from 12% to 16%.
- Differentiated rate for healthcare and pharmaceuticals. For the sale of medicines, medical care and veterinary medicine, a VAT rate of 10% is established. The full list of goods and services will be approved by the state authorized body.
- VAT exemption. The media, as well as the production and sale of agricultural products and aquaculture, are completely exempt from VAT.
- Lowering the threshold for VAT registration. The limit has been reduced from 20,000 MCI to 3,800 MCI, which is equivalent to reducing the threshold from 78 million tenge to 15 million tenge (~28,700 euros).
Thus, if the new Tax Code of Kazakhstan is adopted, taking into account the above amendments, the VAT rate will be differentiated and depend on the field of business activities.
In addition, lowering the threshold will cover more entrepreneurs, which will require a revision of the tax strategy for small and medium-sized businesses.
Author: Zhanture Tashkarayev
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