Information Letter for Clients on Universal Declaration in 2025

Dear Colleagues,

On July 5, 2025, President Kassym-Jomart Tokayev signed amendments to the current Tax Code. These changes have already entered into force and relate to the procedure for submitting declarations under the universal declaration system. We remind you that the deadline for submitting declarations is September 15, 2025.

1. What has changed?

1. An asset threshold of 20,000 MCI (78.6 million KZT) has been introduced: the purchase of property above this amount requires filing a declaration;
2. The procedure for submitting Forms 250 (assets and liabilities) and 270 (income and property) has been clarified;
3. The list of grounds for mandatory reporting has been expanded (ownership of foreign assets, digital instruments, participation in companies with more than 10% shareholding, etc.).

2. Who is exempt from filing declarations?

The following are not required to submit declarations:

1. Pensioners;
2. Students;
3. Homemakers;
4. Employees of private companies;
5. Individual entrepreneurs.

The exemption applies only if they do not have:

1. Foreign bank accounts, assets, or property;
2. Shareholdings in foreign companies exceeding 10%;
3. Digital assets;
4. Transactions exceeding 20,000 MCI.

3. Form 250 - Initial Declaration

Required to file:

1. Candidates for elective public positions and their spouses;
2. Notaries, lawyers, private bailiffs, mediators;
3. Individuals applying for the status of major participant in a bank, insurance company, or issuer;
4. Owners of foreign accounts and assets exceeding 1,000 MCI (3.93 million KZT);
5. Individuals with foreign brokerage accounts.

New: Brokerage accounts must now be declared, and debts can be confirmed not only by a notary but also by a court decision or reconciliation statement.

4. Form 270 - Annual Declaration

Required to file:

1. Civil servants and persons equated to them;
2. Founders and executives of companies with more than 10% shareholding;
3. Owners of foreign assets or digital instruments;
4. Citizens receiving income abroad (freelancers, investors);
5. Individuals receiving income from rent, tutoring, and other services;
6. Any citizens who purchased property worth more than 20,000 MCI.

Not required to declare: salaries, pensions, transfers from relatives, property in Kazakhstan worth less than 20,000 MCI.

5. Declaration of spouses

Each spouse submits a declaration separately. If property is registered only in the name of one spouse, the other is not required to report (unless they fall into the list of declarants).

6. Deadlines and liability

1. Form 250 is filed as of December 31, 2024;
2. Form 270 is filed for the entire year of 2024;
3. Submission is possible via eGov, e-Salyk Azamat, or the taxpayer’s cabinet;
4. Corrections are allowed within 3 years by submitting an additional declaration.

Liability:

1. First late submission - warning;
2. Repeated late submission - fine of 15 MCI (about 60,000 KZT).

The deadline for submission is September 15, 2025.