Kazakhstan Proposes Raising Taxes for the Wealthy

Kazakhstan's President Kassym-Jomart Tokayev, in his address to the nation, proposed discussing the introduction of higher tax rates for individuals with large fortunes.

"I believe it is time to discuss introducing a higher rate for those with large fortunes. I emphasize that no one intends to restrict lawfully acquired assets in any way. This would contradict the Constitution itself," Tokayev stated. "It is necessary to use advanced technologies, including artificial intelligence, to increase tax collection, reduce the shadow economy, and lower corruption risks."

Tokayev instructed the Government and the Kurultai (Parliament) to develop specific proposals.