Система Orphus

Low-income Kazakhstanis to pay 1% individual payment tax since 2019

28.11.2018, 20:34 3115
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- V? "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.

This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.

When citing our content a hyperlink to this Kazakhstan Today website is obligatory.


relevant news

Most read