What you need to know and consider when submitting a declaration on Form 270.00.
The phased introduction of universal declaration continues in Kazakhstan. What you need to know and take into account when submitting a declaration on form 270.00.
In 2024, form 270.00 is submitted by all individuals who submitted a declaration of assets and liabilities (form 250.00) in the period from 2021 to 2023.
Thus, in 2024, the declaration in the form 270.00 is submitted by: civil servants and persons equated to them; employees of state institutions and the quasi-public sector, and their spouses; persons who are obliged to submit a declaration in accordance with the Constitutional Law of the Republic of Kazakhstan "On Elections in the Republic of Kazakhstan" and the laws of the Republic of Kazakhstan "On anti-corruption measures", "On banks and banking activities in the Republic of Kazakhstan", "On insurance activities", "On the securities market".
The declaration rules have been simplified, since January 1, 2024, the form of the declaration of income and property has been simplified, and the list of declared information has been reduced. There is no need to reflect income taxed at the source of payment (wages, deposit fees, pension payments, etc.), and information on the acquisition/alienation of property registered in the Republic of Kazakhstan. Special attention to those who may be associated with corruption, the obligation to reflect information about the sources of funds for the acquisition of property is assigned only to individuals specified in the law "On Combating Corruption", namely, persons holding responsible public positions; persons authorized to perform public functions; officials; persons equated to persons authorized to perform state functions, as well as their spouses. Individuals who are required to submit a declaration of income and property in accordance with the law "On Combating Corruption" must reflect in them information about the acquisition and (or) alienation of property, as well as sources of coverage for the acquisition of real estate, vehicles, shares in companies, securities, etc. during the reporting tax period. digital assets, investment gold, derivative financial instruments and shares in housing construction, including outside the Republic of Kazakhstan.
In addition, individuals of this category in the declaration of income and property reflect information about the availability of money in foreign banks located outside the Republic of Kazakhstan (regardless of the amount of the bank deposit). In accordance with the norms of the Tax Code, the declaration of income and property is intended for individuals to reflect information on income subject to taxation by an individual independently (from renting, selling real estate, transport, securities, digital assets), as well as income from abroad, with the exception of income of an individual entrepreneur subject to declaration from entrepreneurial activity activities; tax deductions; acquisition and (or) alienation of property outside the Republic of Kazakhstan, including on a gratuitous basis; the requirement to offset and refund the amount of excess for individual income tax, including in the case of application of the tax deduction defined by Article 351 of the Tax Code, for mortgage housing loans received for the purchase of housing in Kazakhstan (this norm is introduced from January 1, 2025); money in bank accounts with foreign banks located outside Of the Republic of Kazakhstan, in an amount collectively exceeding 1000 times the monthly calculation index (MCI) effective as of December 31 of the reporting tax period; property owned by an individual as of December 31 of the reporting tax period, foreign securities, digital assets, investment gold and a share in the authorized capital of a foreign legal entity. debts of other persons to an individual (accounts receivable) and (or) debts of an individual to other persons (accounts payable) in the presence of a contract or other document notarized (certified) (with the exception of debts to banks and organizations engaged in certain types of banking operations).
The declaration of income and property is submitted at the place of residence (stay) no later than September 15 of the year following the reporting calendar year.
Recall that the declaration on form 270 is submitted annually, starting from the next year after the submission of the "entrance" declaration of assets and liabilities on form 250.
In accordance with paragraph 1 of Article 272 of the Code of Administrative Offences (CAO), failure to submit tax reports to the state revenue authority within the time limit established by legislative acts of the Republic of Kazakhstan entails a warning. In case of repeated violation during the year, according to paragraph 2 of Article 272 of the Administrative Code, a fine of 55,380 tenge (15 MCI) is imposed.