30.04.2024
Universal declaration process in Kazakhstan
From 1 January 2024, individuals-heads and founders of legal entities and their spouses, as well as individual entrepreneurs and their spouses, must submit mandatory tax returns (form 250.00 initially and form 270.00 for subsequent years) regardless of their tax residency status and physical presence in Kazakhstan.
The difference between forms 250.00 and 270.00
In 2024, individuals who are required to file asset and liability returns (form 250.00), otherwise known as an "entry return," must submit them. This return must include all the assets held as of December 31, 2023.
Starting from 2025, an income and assets tax return (form 270.00) must be submitted by the mentioned persons - it must reflect all income received in 2024, including wages from a tax agent. Please note that the tax authorities may expect to receive certain income from assets previously reported by an individual in form 250.00.
Assets to be reflected in form 250.00
The return must include:
- all movable and immovable property registered outside Kazakhstan
- immovable property, including land plots and land shares
- movable property: vehicles, special equipment, aircraft and marine vessels
- money in bank accounts in foreign banks (if the total amount on all accounts exceeds 1,000 MCI; 1 MCI ≈ 7,7 EUR)
- share in authorized capital of legal entity established outside the Republic of Kazakhstan.
In Kazakhstan, as well as in foreign countries, the following items are subject to declare:
- shares in a residential building under equity participation agreement;
- securities;
- investment gold;
- objects of intellectual property and copyright;
- cash not exceeding 10,000 MCI;
- notarized debts of individuals or own debts to individuals except for bank debts;
- other property, if its value exceeds 1,000 MCI (optional);
- trust management property.
How to submit a return
Through the Taxpayer's Cabinet, egov.kz portal or e-Salyq Azamat mobile application. You can also fill in the declaration on paper and submit it to the tax authorities at the place of registration.
Deadline for the return submitting
The return must be submitted by 15 September 2024.