The government of Kazakhstan will introduce a new tax regime for owners of high-value property starting from 2026. This was reported by Zamin.uz.
According to the new Tax Code, from January 1, 2026, owners of real estate with a total value exceeding 450 million tenge will pay an increased tax rate. Azamat Amrin, the First Deputy Minister of National Economy, stated that from now on, the main criterion for tax calculation will be the total value of the property, not the number of properties.
For example, if a person owns 80 apartments each worth 10 million tenge, their total value amounts to 800 million tenge, and a 1% tax — 8 million tenge — will be paid. Additionally, a separate tax regime will be introduced for luxury vehicles, yachts, and airplanes.
If the value of a car exceeds 75 million tenge, an additional 10% excise tax will be applied. This rate also applies to sales between private individuals.
An additional 10% tax will be imposed on alcohol and tobacco products on top of the regular excise tax. However, for now, no tax will be applied to fur products and jewelry, as controlling them is considered complicated.
Although the term “luxury tax” is not officially included in the new code, in practice, increased tax rates for expensive assets are being applied. This change aims to ensure a fair distribution of the state tax burden.
According to the Ministry of National Economy, under the new system, instead of direct taxes, an excise-based tax will be introduced on luxury goods and high-value assets. The goal is to link taxes to specific objects and protect the interests of honest taxpayers.
The idea of a “luxury tax” has been discussed in Kazakhstan for several years. Now, with the implementation of this system, it is expected to bring additional revenue to the state budget and ensure economic fairness.
