Kazakhstan's VAT Hike: A Gradual Approach Needed to Avoid Economic Shock

Kazakhstan's Proposed Tax Code Changes Spark Concerns Among Businesses Kazakhstan is facing potential economic upheaval due to proposed changes in its Tax Code. The most significant concern is a substantial increase in the Value Added Tax (VAT) rate. Zhanar Suleimenova, a prominent public figure, voiced concerns about the abrupt increase, arguing it could negatively impact businesses and consumers. "The increase is too steep," said Suleimenova, "it should be implemented gradually to avoid economic shock." She highlighted the potential for price increases and inflation as a result. The proposed changes are expected to be debated extensively, with business leaders and economists weighing in on the potential consequences. The government will need to carefully consider the economic implications of this change, ensuring a balanced approach that supports both economic growth and social welfare.