This was announced by the vice-minister of Finances, Ruslan Dalenov. Source: Novosty – Kazakhstan International Press Agency.

Young Persons will declare property in income in Kazakhstan after introduction of the overall declaration in 2017 in the country, as reported by the vice-minister, Ruslan Dalenov in Wednesday ИА Novosty-Kazakhstan informs. 

According to the draft blaw the number of persons who will present a declaration has been identified, namely: adult citizens of the RoK and persons having  a residence permit will submit a declaration on assets and income and property and young people  will submit a declaration on assets and obligations in availability of property subject to registration as well in availability of deposits on bank accounts – which in total comprises more than 5 000 US dollars , declaration on income and property when receiving income which are not taxed when paying”, Mr. Dalenov said during the meeting on discussion of changing to overall declaration of income and property of the RoK citizens.

“It is a curiosity for us when we speak about the case where children and pensioners must submit a declaration. Actually there is a question here, but in many countries for example (…) in Switzerland the youngest taxpayer has the age of 6 months. It does not mean that he must take a taxi and go to pay taxes.  That means that his Attorney should fill in the declaration on his behalf”, he said. 

“Foreign citizens will submit declaration on assets and obligations if they have any property subject to registration  in the RoK territory and declaration on income and property when receiving income which were not taxed at the source of payment, the vice-minister noticed.  

Overall declaration in Kazakhstan is proposed to be introduced stage by stage, starting from 2015 till 2017. In 2015 submission of the declaration on assets and obligations of government officials, employees of national companies, state organizations and state enterprises is expected. In 2016 submission of declaration on assets and obligations of their individuals will be started. Finally, in 2017 is proposed to perform the complete change-over to submission of declarations on income and property by all individuals.   

In connection with this MinFin has elaborated the draft law ”On introduction of amendments to certain legislative acts of the RoK on issues concerning declaration of income and property of citizens of the RoK and individuals having a residence permit.”  

Source: ИА Novosty-Kazakhstan