"We're still undecided": The Deputy Prime Minister responded regarding the potential increase of VAT in Kazakhstan.

During a briefing at the government, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin discussed plans to raise the VAT in Kazakhstan. He stated that a new rate has yet to be determined, as reported by NUR.KZ correspondent.

https://www.nur.kz/politics/kazakhstan/2215869-my-poka-ne-opredelilis-naskolko-v-kazahstane-hotyat-povysit-nds-otvetil-zampremera/2025-01-29 08:28:47

The head of the Ministry of National Economy, Serik Zhumangarin, stated that the most common VAT rate in the world is 20%, while in Kazakhstan it currently stands at 12%.

"The 20% VAT rate is one of the most prevalent globally. We have not yet reached a decision with the government regarding the rate, to be honest. Why? Because, for example, we conduct several consultations each month, have ongoing meetings, and we have a number of economic consultants who carry out calculations. We are still assessing.

It is not appropriate to say that the government has made a final decision and set the rate at this time. However, we are discussing an increase in VAT," Zhumangarin stated.

The minister also disclosed the threshold being discussed.

"We have not yet determined what the VAT rate will be - between 16% and 20%," he added.

It is worth noting that a year ago, Prime Minister Olzhas Bektenov stated that the VAT rate would not be increased in Kazakhstan for the time being.

Recently, Deputy Prime Minister Kanat Bozumbaev commented on reports that the government of Kazakhstan had recently discussed raising the VAT rate from 12% to 20%.

Today, Prime Minister of Kazakhstan Olzhas Bektenov proposed increasing the VAT rate while simultaneously reducing social taxes and pension contributions for employers.