The State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan explained the taxation procedure when using part of pension savings to improve housing conditions, pay for expensive treatment. For these purposes, a separate procedure for the taxation of lump-sum pension payments is provided.
The withholding pit is made by JSC "Unified accumulative pension Fund" (SAPF) based on the statement about holding a pit in one of two ways for choosing individuals:
1) at the same time - when transferring the UAPF to an authorized operator;
2) monthly in equal shares for no more than 16 years according to the schedule established by the UAPF (from the next month in which the pension transfer is started).
Here are some examples: the
amount of pension savings on the depositor's IPS = 8,500,000 tenge;
sufficiency threshold = 3,500,000 tenge;
one-time pension payment = 5,000,000 tenge (8 500 000 -3 500 000).
1 method of deduction of PPI
amount of calculated PPI = 5,000,000 (in full) * 10%= 500,000 tenge;
the amount of the PII to be retained and transferred to the budget = 500,000 tenge;
the amount of income in the form of a one-time pension payment = 4,500,000 tenge (5 000 000 – 500 000).
2 method of deduction of PPI
amount of calculated PPI = 5,000,000 (in full) * 10%= 500,000 tenge;
the amount of income in the form of a one-time pension payment = 5,000,000 tenge.
The IPN will be deducted from the pension.
"When choosing the second method of withholding the PPI (with a delay in the transfer of pensions), separate provisions are established for withholding the PPI in cases that occurred after receiving the deferral:
- when leaving for permanent residence outside the Republic of Kazakhstan - at a time from the amount of the pension payment;
- when transferring the amounts of pension savings to insurance organizations - at a time from the amount of the pension payment;
- in case of death – at the same time with the pension savings inherited by the heirs, " the SRC added.