Kazakhstan’s lower chamber of parliament is currently examining provisions of the new draft Tax Code, which received approval in its first reading on 9 April 2025.
These provisions are based on the draft originally issued by the Ministry of Finance in August 2024, with some amendments included in the version under consideration.
One of the key features of the draft legislation is the introduction of differentiated corporate income tax rates depending on the sector.
Under the proposed rules, banks and entities engaged in gambling will be subject to a 25% corporate tax rate. Entities involved in financial leasing services will face a 10% rate. For companies operating in the fields of education and the production of medical goods, a 5% rate will apply in 2026 to 10% from 2027 onward.
Several significant changes are outlined regarding value-added tax. The standard VAT rate will increase from 12% to 16%. A new 10% VAT rate will be introduced for medical services. Exemptions will be granted for book publishing, certain medicines, and specific food products. Additionally, the threshold for mandatory VAT registration will be reduced to KZT 40 million.
Earlier, Kazakhstan’s Ministry of National Economy updated the draft of its new tax code introducing several amendments on 24 July 2024.
