"luxury tax" in effect in Kazakhstan from 2026: new rules for owners

The government of Kazakhstan is introducing a new tax regime for owners of high-value property. According to the new Tax Code, from January 1, 2026, owners of real estate with a total value of more than 450 million tenge (about 835 thousand dollars) will pay at an increased rate. This was announced by the First Deputy Minister of National Economy, Azamat Amrin.

According to Amrin, now when calculating taxes, not the number of property, but its total value is taken into account. "Currently, some citizens own 30 or 60 houses. If previously calculations were made separately for each object, then in the new system, the increased rate will be activated when the total value exceeds 450 million tenge," he said.

For example, if one person owns 80 apartments worth 10 million tenge each, their total value will be 800 million tenge. In this case, the owner pays 1% of the total value - 8 million tenge - as an annual tax.

Amrin also noted that the tax on expensive vehicles, yachts, and airplanes is calculated differently. If the price of the car exceeds 75 million tenge (140,000 dollars), an additional 10% excise tax is applied to it. The same rate applies to sales among private individuals.

In addition, a 10% surcharge will be added to the basic excise tax on alcohol and tobacco products. However, fur products and jewelry are not currently subject to taxation. "We started with the most important assets on the list: housing, cars, yachts - it's easy to calculate their value. "It is difficult to control such property as jewelry and gold," the Deputy Minister explained.

Although the new Tax Code does not include a separate term "luxury tax," in practice, increased tax rates are being introduced for some valuable properties. Through this change, the state intends to distribute the tax burden more fairly.

According to the Ministry of National Economy, instead of direct taxes, it is planned to introduce an excise-based system for luxury goods and luxury properties. The goal is to link taxation to specific objects and protect the interests of bona fide payers.

The idea of the "luxury tax" had been discussed in Kazakhstan for several years. Now, it is expected that this system will bring additional income to the state budget and ensure economic justice.