Answer:
Property, including works and services, received by an individual free of charge from another individual, including in the form of a gift or inheritance, is not considered income of the individual for tax purposes. Accordingly, no individual income tax (IIT) is payable.
However, this provision does not apply to property received by an individual entrepreneur and intended for use in entrepreneurial activities.
Answer:
Income from a capital gain arising from the sale of a gifted apartment that has been owned for less than two years may be determined as the positive difference between the sale price and the assessed value of such property.
At the same time, the assessed value means the value of the property determined by the State Corporation for the purposes of calculating property tax as of January 1 of the year in which the ownership right to the sold (transferred) property arose.
An exception applies where the property was received free of charge before January 1, 2026 and is sold after January 1, 2026. In this case, the period of ownership of the property of less than one year shall apply.
Answer:
When free-of-charge received property is sold, the capital gain is determined in the amount of the sale price of such property, since there is no acquisition cost in this case.
At the same time, the Tax Code provides for certain cases where the following amounts may be used instead of the acquisition cost:
the value previously included in income as property received free of charge — where the value of the property received free of charge was included in the taxable income of an individual entrepreneur or the taxable income of an individual;
the market value — where the property is sold (transferred) after being received as an inheritance or as charitable assistance;
the assessed value — where the property sold (transferred) is subject to property tax imposed on individuals;
the cadastral (assessed) value — where a land plot is sold (transferred);
zero value — in all other cases.
At the same time, the market value means the market value of the property being sold (transferred) as of the date on which the ownership right thereto arose, determined in an appraisal report prepared under an agreement between the appraiser and the taxpayer in accordance with the legislation of the Republic of Kazakhstan on appraisal activities.
The assessed value means the value of the property determined by the State Corporation for the purposes of calculating property tax as of January 1 of the year in which the ownership right to the sold (transferred) property arose.
The cadastral (assessed) value means the cadastral (assessed) value determined by the State Corporation maintaining the state land cadastre.