In 2024, top officials and business owners in Kazakhstan must submit asset and liability declarations. Starting January 1, 2025, all citizens must also submit these declarations. There is confusion among citizens on how to correctly fill out the forms. To address these concerns, questions were directed to Dina Kusainova, Head of the Individual Income Administration Department.
One common question is whether jointly owned property with a spouse should be declared. Property registered in Kazakhstan does not need to be declared, but jointly owned property registered abroad must be declared by both spouses. Each individual must submit their own declarations; one spouse cannot fill it out for the other.
Declarations can be submitted in paper form or electronically. Minor children's declarations are submitted by their legal representatives if they own property outside Kazakhstan. Errors can be corrected by submitting additional declarations within the three-year statute of limitations.
There is no provision to freeze bank accounts due to declaration errors. However, failure to rectify errors within 30 days of notification can lead to tax collection orders. All errors should be corrected promptly by submitting additional declarations.
The declarations must include real estate owned outside Kazakhstan. Cash holdings up to 10 times the monthly calculation index can be declared outside of bank accounts. Debts owed to or by the individual must be declared with notarized agreements.
Gifts exceeding 1,000 times the monthly calculation index must be declared as received assets. Social benefits and payments are no longer required to be declared. Failure to submit declarations on time may result in warnings, while providing false information may lead to fines.
Data security is a priority, with the tax authority's closed information systems ensuring confidentiality. Limited staff have access to the declarations and face personal responsibility, including legal consequences, for any breaches. Personal data protection is guaranteed by legal regulations, ensuring the confidentiality of all information provided.
