Simplified declaration procedure

The obligation to reflect the information on immovable property, aircraft and ships, water navigation vessels, vehicles, special equipment and trailers registered in the territory of the Republic of Kazakhstan, money in bank accounts in the Republic of Kazakhstan, as well as debt to second-tier banks of the Republic of Kazakhstan in "initial" declaration is excluded. This was announced by Deputy Chairman of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan Zhaidar Inkerbayev during a press conference in the CCS.

Information on such property is available in the state revenue authorities, so individuals are not required to fill in this information.

The declaration should reflect the following information about assets and liabilities available as of December 31:

- real estate, vehicles that are registered or subject to registration in a foreign country;

- money on bank accounts in foreign banks outside the Republic of Kazakhstan with total amount exceeding 1000-fold MCI;

- share in a residential building under an agreement on co-investing into construction of a residential house;

- participation interest in the authorized capital of a legal entity established outside the Republic of Kazakhstan;

- securities, derivative financial instruments (except for derivative financial instruments, the execution of which occurs through the acquisition or sale of the underlying asset);

- investment gold;

- objects of intellectual property, copyright;

- cash, which is indicated in the amount within 10,000 MCI;

- accounts receivable or accounts payable (except for debts to the STB) subject to availability of notarized contract or other document that is the basis for of an obligation or claim;

"Also, an individual may, at its discretion, specify other property, if unit price (cost) exceeds 1000 MCI, subject to determination of value in the appraisal report prepared based on an agreement between the appraiser and the taxpayer in accordance with the legislation of the Republic of Kazakhstan on valuation activities," -added Zh. Inkerbayev.