Low-income Kazakhstanis to pay 1% individual payment tax since 2019
ALMATY. KAZINFORM Kazakhstanis whose income does not exceed 60,125 tenge will be exempted from personal income tax payment up to 90% of taxable amount, the press service of Almaty State Revenues Department says.
As per the Law of the Republic of Kazakhstan dated July 2, 2018 No.165- VІ "On amendments to some legislative acts of Kazakhstan on social provision", those people whose income does not exceed 25 monthly calculation indices (1MCI = 2,405 tenge in 2018) or 60,125 tenge will pay only 1% of individual payment tax. This amendment will enter into force on January 1, 2019.
In case if a person works for two or more organizations, and if he/she is paid less than 25MCI (60,125 tenge) by each employer, individual payment tax will be 1% as well.
The amendment was initiated by President Nursultan Nazarbayev at the joint meeting of the Parliament chambers held March 5, 2018 in Astana in order to help low-income working citizens, whose wages do not exceed 25MCI.
According to uchet.kz web portal, in 2019, 1 monthly calculated index will make 2,525 tenge. Minimum wage will be increased 1.5 times by the President's instruction and will comprise approximately 42,426 tenge.
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