memleket.kz

    Am I subject to the "luxury" tax if several apartments or houses are registered under my name?

    ·
    Question

    Am I subject to the "luxury" tax if several apartments or houses are registered under my name?

    Answer

    In the event that, according to the information provided by the NJSC "State Corporation 'Government for Citizens'" for 2026 (introduced since 2026), the cumulative value of objects of individuals subject to property tax exceeds the threshold limit of 450 million tenge, then in 2027 such individual will be presented with a property tax obligation for 2026 in an increased amount (2,946,600 + 2% of the amount exceeding 450.0 million tenge). This obligation is presented regardless of the number of objects.

    Related materials

    All questions
    Question

    Please clarify the procedure for applying VAT exemption when selling medicines included in the list approved by the Government of the Republic of Kazakhstan. Also confirm whether the VAT exemption applies to the turnover of such medicines at all stages of their distribution in accordance with subparagraph 28) of Article 474 and subparagraph 17) of paragraph 1 of Article 479 of the Tax Code of the Republic of Kazakhstan.

    Answer

    In accordance with Article 503 of the Tax Code, starting from January 1, 2026, the VAT rate is 16 percent. A reduced rate of 5 percent (from January 1, 2027 – 10 percent) applies to taxable turnover on the sale and import of medicines, medical devices, medical device components,...

    ·
    Question

    According to the new Tax Code, the valuation of property of legal entities must be conducted once every 3 years. At the same time, the State Revenue Department for Turkestan city sent a notification about property revaluation. Please clarify which position should be followed.

    Answer

    Yes, the new Tax Code provides for mandatory revaluation of real estate for the purpose of determining the tax base for property tax at least once every 3 years. Since this norm was introduced from 2026, the first mandatory revaluation must be conducted by the end of 2028. At the...

    ·