Universal filing: Tax declarations filing deadline is approaching

In brief

The deadline for submitting the declarations of:

• assets and liabilities (Form 250.00) and 
• income and property (Form 270.00) electronically is approaching. The date is September 15, 2022. 

For clarity, “property” in the name of Form 270.00 has the same meaning as “assets” in the name of Form 250.00. The direct translation from the Tax Code of RK is followed.

In details

From January 1, 2021 the first stage of universal filing was introduced in Kazakhstan for individuals, starting from governmental employees and subsequently to all citizens by the fourth stage scheduled for 2025.

From January 1, 2021, the declaration of assets and liabilities (Form 250.00) is submitted by individuals, with the status below as of January 1 of the year in which the declaration should be submitted i.e. individuals:

• holding a public position and their spouses; 
• authorized to perform state functions and their spouses; • equated to those performing state functions and their spouses*; 
• with an assigned obligation to submit a declaration pursuant to the Constitutional Law “On Elections in the Republic of Kazakhstan” and the laws “On Corruption Control”, “On Banks and Banking Activities in the Republic of Kazakhstan”, “On Insurance Activities”, “On the Securities Market”.

Form 250.00 is submitted in the year in which the requirement to prepare a tax declaration arises for an individual. Primary data for reporting accumulated assets and liabilities for entering in the Universal Declaration are declared in Form 250.00, and Form 270.00 is submitted thereafter.

Example #1: If on January 1, 2021 an individual performed managerial functions in a quasi-state sector entity, the individual should submit Form 250.00 as of December 31, 2020. If an individual purchase more assets in later year, Form 270.00 should reflect that.

Example #2: If an individual was empowered to perform managerial functions in quasi- state sector entity on July 1, 2021, Form 250.00 in 2021 is not required. Furthermore the same individual holding his position until January 1, 2022, Form 250.00 in 2022 will be required. 

The deadline and the place for submission for Form 250.00 and Form 270.00 is as follows:

• hard copy - no later than July 15 of the year following the reporting 
• electronically - no later than September 15 of the year following the reporting 
• form 270.00 tax payment should be no later than 10 calendar days after the statutory submission deadline depending on the submission type 
• individuals submit a declaration at the place of residence 
• individual entrepreneurs and individuals with a private practice submit the declaration at the place of its location.

How can we help?

Our Personal Tax Compliance team will be happy to pleased to assist you to ensure high level of personal tax compliance in your organizations by means of:

• an annual Webex; 
• the provision of consultation on various personal tax related matters 
• a full range of personal tax compliance assistance in relation of Forms 240.00, 250.00, 270.00