Astana. September 9. Kazakhstan Today - Kazakhstan government has corrected tax rates on luxury property in the project of the new Tax Code. The Minister of Economics and Budgetary Planning, Bahyt Sultanov, informed on Monday, the agency reports. "We have changed a threshold level of tax rates," B. Sultanov said. "If the cost of a real estate is more than 120 million KZT, tax rate will be 1 %, and if it is from 50 million KZT up to 120 million, the rate will reach 0.75 %," the Minister of economics explained. Earlier, the government stated that it was proposed to increase tax rates on luxury property of physical entities in the project of the new Tax Code from 0.5 % up to 1 % beginning with the cost exceeding 30 million KZT.