Income tax exemptions for Individuals

Tax Code of RK allows for income tax exemption for Individuals, including on the following type of income: 

• interest on Debt Securities (Kazakhstan state issued securities, bonds and debt securities); 

• remuneration on and capital gains from sale of the government issued securities, Agency Bonds (bonds issued by a financial agency or a NBK owned legal entity that repurchases individual mortgage loans);

• dividends and remunerations on publicly traded securities on stock exchanges operating in the territory of Kazakhstan;

• capital gains from sale of publicly traded securities on stock exchanges operating in the territory of Kazakhstan by way of open trading on a Kazakhstan stock exchange;

• net income or dividend received from a legal entity for the amount not exceeding 30,000 times of the Monthly Calculation Index (MCI);

• capital gains from sale of shares in open-ended and interval mutual funds;

• capital gains from sale of shares, participation interests in a Kazakhstan resident legal entity or a Kazakhstan consortium, if such shares and participation interests meet all of the following criteria: 

- owned for the period exceeding three (3) years;

- a legal entity or a consortium is not a subsoil user;

- subsoil users' property in the value of the assets of a legal entity or a consortium shall not constitute more than 50 percent.

• dividends of a controlled foreign company and/or a foreign company included in a single organizational structure of a consolidated group, on which individual income tax was paid in accordance with Article 340 of Tax Code;
• income from an investment deposit placed with Islamic bank. 

Note: for full list of tax exemptions please refer to Clause 341 of Kazakhstan Tax Code