Fuel prices may skyrocket to the point where… The government might find it appropriate to abolish the vehicle tax. This is what expert Nurlan Zhumagulov writes in his Telegram channel:
«The transition to a uniform oil products market within the framework of the EAEU countries in 2025 will lead to a significant increase in gasoline prices. Consequently, the overall costs to be incurred by individuals for using passenger cars, considering the vehicle tax, will rise.
The Ministry of National Economy writes that ‘with a significant increase in gasoline prices (for example, by two times), citizens’ expenses for owning and operating vehicles will correspondingly increase. Such a rise will be particularly sensitive for individuals who own economy-class vehicles. Therefore, measures are needed to prevent the deterioration of their social and financial situation,’ and proposes to abolish the tax.
In 2022, revenues from the vehicle tax for individuals amounted to 70 billion tenge. To maintain these revenues, it is proposed to retain the tax for vehicles with larger engine capacities.
Furthermore, the cancellation of the 0.5 coefficient to the rates of the PIT when selling oil on the domestic market is proposed. The reason for this is the launch of the common oil and oil product market of the EAEU, which will begin on January 1, 2025.»