The only dwelling of a citizen is not accepted as a pledge

From March 1, 2022, when granting deferrals and installments for the payment of taxes, the sole dwelling of an individual will not be accepted as collateral.

According to the tax legislation, when applying for a deferral or installment plan, the taxpayer is obliged to pledge property (depending on the term of the installment plan: real estate, vehicles, equipment, etc.).

Subparagraph 2) of Article 52 of the Code of the Republic of Kazakhstan "On Taxes and other mandatory payments to the Budget" (Tax Code) has been supplemented with provisions according to which the sole dwelling of an individual, an individual entrepreneur, a person engaged in private practice cannot be the subject of pledge. This innovation will come into effect from March 1, 2022.

In order to implement these amendments, the Ministry of Finance of the Republic of Kazakhstan has developed a draft order of the Minister of Finance of the Republic of Kazakhstan "On Amendments to the Order of the Acting Minister of Finance of the Republic of Kazakhstan dated July 10, 2020 No. 665 "On Approval of the Rules for the provision of Public Services by State Revenue Bodies of the Republic of Kazakhstan" (hereinafter - the Draft).

This Project is posted on the Internet portal of open regulatory legal acts http://legalacts.egov .kz February 7, 2022.

The deadline for public discussion of the Project is until February 21, 2022.

You can find out more about taxes and much more by calling 1414 or @mkd_trk