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Kazakhstan seeks to drastically raise taxes on cars

31 july 2013, 08:45
0
Kazakhstan Finance Minister Bolat Zhamishev. ©pm.kz
Kazakhstan Finance Minister Bolat Zhamishev. ©pm.kz
Raising the tax on cars powered by engines of over 3 liters is a tax on luxury, KazTag reports, citing the country’s Finance Minister Bolat Zhamishev as saying.

“The tax rates for cars powered with 4-liter engines are far higher than those for cars with 3 or 3.5 liter-engines. It’s a tax on luxury”, he said in an online conference arranged by Bnews.kz.

According to him, the Government should abrogate tax benefits with regards to such cars for handicapped people as the benefits are misused by tax evaders [through transferring the title to such cars to handicapped people eligible for tax benefits].

Earlier the Minister said in Kazakhstan there are very few World War Two veterans with no luxurious cars registered in their names [to evade taxes]. WW2 veterans enjoy the greatest tax benefits.

The country’s media reported earlier that Kazakhstan’s respective ministries seek to raise taxes on cars equipped with engines of 3-4 liters from the current 15 monthly calculation rates [$169] to 66 monthly calculation rates [$746] depending on the engine volume.

July 26 the country’s Central Bank Governor Gregory Marchenko said the average salary in Kazakhstan stands at 105 000 Tenge ($686).

The draft legislation also seeks to introduce progressive tax rates for residential property.

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