Who must submit a declaration from January 1, 2024 with the introduction of universal declaration

The declaration of assets and liabilities is submitted once when entering the universal declaration system (except for cases provided for by the Laws of the Republic of Kazakhstan "On Elections in the Republic of Kazakhstan", "On Combating Corruption", when the declaration is submitted as a candidate and the Laws of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan", "On Insurance activities", "On the Securities Market", persons wishing to become major participants in a bank, insurance company, investment portfolio manager).

The declaration must reflect the following information about the assets and liabilities available as of December 31 of the year preceding the year in which the declaration is submitted:

• real estate, vehicles that are registered or subject to registration in the foreign country;
• money on the bank accounts in foreign banks outside the Republic of Kazakhstan in the amount that exceeds 1,000 times the MCI for all the bank deposits in aggregate. At the same time, persons who, in accordance with the Law of the Republic of Kazakhstan "On Combating Corruption", adopt anti-corruption restrictions on opening and holding accounts (deposits) in foreign banks located outside the Republic of Kazakhstan, storing cash and valuables in foreign banks located outside the Republic of Kazakhstan, in the declaration of assets and liabilities reflect information about the availability of money in foreign banks located outside the Republic of Kazakhstan, regardless of the amount of the bank deposit;
• a share in residential building under an agreement on co-investing into construction of residential housing;
• share in authorized capital of the legal entity established outside the Republic of Kazakhstan;
• securities, derivative financial instruments (with the exception of derivative financial instruments, the execution of which occurs through the acquisition or sale of the underlying asset);
• digital assets  
• investing gold;
• objects of intellectual property, copyright;
• cash, which is indicated in the amount within 10,000 times the MCI established by the law on republican budget and valid as of December 31 of the year preceding the year in which the assets and liabilities declaration is submitted;
• receivables or payables (except for the indebtness to the second-tier banks) in the presence of a notarized contract or other document that is the basis for the emergence of an obligation or claim;

Also, at will, a natural person can indicate other property, if the price (value) for the unit of this property exceeds 1000 times the MCI, if there is a value determined in the appraisal report carried out under an agreement between the appraiser and taxpayer in accordance with legislation of the Republic of Kazakhstan on the appraisal activities.

Starting from the year following the year of submission of assets and liabilities declaration (form 250.00), an income and property declaration (form 270.00) is submitted annually.

If the declaration of Form 250 is intended to record all assets and liabilities as of the date of entry into the universal declaration system, the declaration of form 270 must contain information already for the past calendar year. It should indicate what was purchased and what was alienated over the past year.

The following is subject to be reported:

• income received for a calendar year;
• tax deductions;
• acquisition or alienation of property subject to the state or other registration, as well as property on which the right or transactions are subject to the state or other registration;
• money on the bank accounts in foreign banks located outside the Republic of Kazakhstan, in an amount exceeding 1,000 times the MCI in aggregate, established by the law on republican budget and effective as of December 31 of the reporting tax period;
• property that is available as of December 31 of the reporting tax period under the right of ownership of a natural person: real estate that is subject to the state or other registration (accounting) or the rights and (or) transactions which are subject to the state or other registration (accounting) in the competent authority of a foreign state in accordance with legislation of the foreign state; securities whose issuers are registered outside the Republic of Kazakhstan; share of participation in authorized capital of a legal entity registered outside the Republic of Kazakhstan;
• debts of other persons to a natural person (accounts receivable) and (or) debts of a natural person to other persons (accounts payable) in the presence of an agreement or other document that is the basis for the emergence of an obligation or claim, notarized (certified), except for the debts to the banks and organizations carrying out certain types of banking operations, established in accordance with legislation of the Republic of Kazakhstan "On banks and banking activities in the Republic of Kazakhstan".

The income and property declaration is submitted at the place of residence (stay), the deadline for submitting the income and property declaration of the third stage:

• if submitted in hard copy, no later than July 15 of the year following the reporting calendar year (until July 15, 2024);
• in case of submission in electronic form - no later than September 15 of the year following the reporting calendar year (until September 15, 2024).

At the same time, individual entrepreneurs must submit a declaration at the location of the sole proprietor.

The income and property declaration can be submitted through the "Taxpayer's Office" (kgd.gov.kz), the portal of "Electronic Government", the eSalyq Azamat mobile application, eGov mobile, Halyk bank, Kaspi bank as well as in hard copy in person to the state revenue authorities, PSC and by mail.

If you have submitted an entrance declaration and forgot to specify some property there, it is possible to submit an additional declaration. It is allowed to make changes within the next three years.

What will happen if you do not submit the declaration?

Administrative responsibility is provided for failure to submit the declaration. The first time is a warning, and the second time the tax authorities can issue a fine of 15 MCI for failure to submit a declaration, in addition, a fine is provided for the concealment of taxable objects in the amount of two hundred percent of the amount of unpaid taxes, and in the amount of three hundred percent if such a violation is repeated.

Individuals who have concealed information about the presence of property on the right of ownership outside the Republic of Kazakhstan, as well as having money in foreign banks located outside the Republic of Kazakhstan, will pay a fine of 100 MCI.

Since January 1, 2021, universal declaration has been introduced in Kazakhstan, which takes place in four stages (Article 45-1 of the Law of the Republic of Kazakhstan dated December 25, 2017 No. 121-VI):

The first is from January 1, 2021;

The second is from January 1, 2023;

The third is from January 1, 2024;

The fourth is from January 1, 2025.

Who submits declarations in the framework of universal declaration?

as of January 1, 2021 (first stage):

• persons holding a senior government position and their spouses;
• persons authorized to perform government functions and their spouses;
• persons equated to persons authorized to perform government functions, and their spouses;
• persons who are obligated to submit a declaration in accordance with Constitutional Law of the Republic of Kazakhstan "On Elections in the Republic of Kazakhstan" and laws of the Republic of Kazakhstan "On Combating Corruption", "On Banks and Banking Activities in the Republic of Kazakhstan", "On Insurance Activities" , "On the securities market".

as of January 1, 2023 (second stage):

• employees of civil service institutions and their spouses (employees of state institutions include employees of state and state-owned enterprises (employees of schools, kindergartens, hospitals, polyclinics, doctors, teachers, etc., that is, all employees who receive salaries from the budget);
• employees of quasi-public sector subjects and their spouses (quasi-public sector entities include state-owned enterprises, LLP, JSC, including national holdings, the founder, participant or shareholder of which is the state, as well as their subsidiaries, affiliates and other legal entities).

as of January 1, 2024 (third stage):

• heads, founders (participants) of legal entities and their spouses;
• individual entrepreneurs and their spouses (This obligation will also apply to those sole proprietors who have the status of inactive and the heads of LLP with a similar status).

as of January 1, 2025 (fourth stage):

• the rest of the population.