Albek Kuantrov, Minister of State Economy of Kazakhstan, said on the 9th that the country will consider imposing a luxury tax.
"Luxury goods with a certain high value such as real estate, transportation, and even investment value will be levied luxury tax , depending on the value, a tax rate level will be set. Such items usually include: yachts, sports car , foreign villas, private jets, etc. These will all be included in the luxury tax ," Kuantrov said in response to a reporter's question.
Kuantrov stressed that tax standards are unlikely to be determined by car brand.
Kuantrov said: "I think the issue of the minimum threshold for the luxury tax on cars will be discussed with the public and experts within the framework of the tax law. It may be from $100,000 to $150,000, and it may be more. High, or set the tax bracket. There are quite a lot of people in our country who drive cars with about 60 million tenge (about 126,000 US dollars), but I don't know how many people drive millions of dollars. It may only account for Few. The same goes for real estate, there will be a similar assessment.”
In addition, according to him, is considering the issue of a luxury tax on owning people who own multiple properties.
"If a person owns 10 properties at the same time, then he may have to pay more. All issues are carefully studied and discussed. I can't count the numbers yet," Kuantrov said.
According to earlier reports, President Tokayev had raised the importance of starting a luxury tax during his State of the Union address.
"This tax is only levied on those who buy expensive properties and vehicles, and will not affect the middle class," Tokayev said.
Source: Tengger News Network
Compilation: Zoya
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