Individuals, as before, can make and accept mobile transfers for their personal purposes

The Order of the Minister of Finance of the Republic of Kazakhstan dated March 29, 2022 No. 323 approved the criteria for classifying transactions carried out on bank accounts of individuals as transactions that have signs of income from entrepreneurial activity,

Thus, transactions that have signs of income from entrepreneurial activity include the receipt by one individual during each of three consecutive calendar months from 100 or more different persons of funds to a bank account that is not intended for entrepreneurial activity.

From 2025, it is planned to receive information from second-tier banks on individuals who are not registered as sole proprietors for identified transactions that have signs of income from doing business according to certain criteria, the State Duma of the Almaty region reports.

As part of the amendments to the Business Code, it is provided for the introduction of an obligation for business entities in terms of ensuring the receipt of payment for the sale of goods, the performance of works, the provision of services to a current bank account for the implementation of entrepreneurial activities.

At the same time, individuals, as before, can make and accept mobile transfers for their personal purposes.

Thus, the amendments do not affect personal transfers of individuals, bona fide taxpayers and are aimed at improving the efficiency of tax monitoring, compliance with the legislation of the Republic of Kazakhstan, and prevention of damage and tax evasion.