What changes are being introduced on property tax from individuals

The Tax Code has been amended to exclude the obligation to submit tax reports on storage rooms located in multi-apartment residential buildings. This was reported in the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan.

In order to exclude the occurrence of tax obligations to submit property tax reports on storage rooms located in multi-apartment residential buildings and not used in business activities, the Law of the Republic of Kazakhstan No. 85-VII of December 20, 2021 amended and supplemented paragraph 3 of Article 529 of the Tax Code, providing for the calculation from January 1, 2022 by the tax authorities of the property tax of individuals on storage rooms located in multi-apartment residential buildings and used for personal purposes (hereinafter - storage rooms).

These changes allow the tax authorities to calculate the tax on storerooms on the basis of the value determined by the State Corporation "Government for Citizens", and also exclude the obligation to submit tax reports, which makes it easier for individuals to fulfill the tax obligation on property tax on storerooms. It should be noted that previously, the determination of the tax base (estimated value of the object), the calculation of tax, as well as the submission of tax reports were carried out by individuals independently.

The calculation of the tax on the storerooms is carried out by the tax authorities no later than July 1 of the year following the reporting tax period, while the payment of taxes to the budget will be made no later than October 1 of the year following the reporting tax period, that is, after the end of the tax period.

In this regard, it eliminates the need for individuals to submit tax reports on property tax for storerooms in apartment buildings starting from 2023. For example, there is no need to submit tax reports for the tax period of 2022.

Also, the Law, in order to exclude a misinterpretation of the term "parking spaces" in terms of determining the object of taxation and the taxation procedure, introduced clarifying additions to subparagraph 1) of Article 528 and paragraph 3 of Article 529 of the Tax Code.

At the same time, it should be noted that the procedure for taxation of "parking spaces" has not changed, as before, the calculation of tax on "parking spaces" is carried out in the same way as for "garages".

These changes do not provide for an increase in the tax burden on parking space owners.