Article 12. Award The Tax Code of the Republic of Kazakhstan

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1. Remuneration is recognized as:

1) remuneration for loans (loans, micro-loans);

2) remuneration under the financial leasing agreement;

3) remuneration for the deposit (deposit);

4) remuneration under the accumulative insurance contract;

5) remuneration on promissory note;

6) remuneration for repo transactions;

7) remuneration on debt securities;

8) remuneration based on Islamic rental certificates;

9) remuneration under the bank account agreement.

2. Remuneration for loans (loans, micro-loans) is all payments related to a loan (loan, micro-loan), in cases where such payments are made:

1) to the lender;

2) a legal entity specified in the laws of the Republic of Kazakhstan "On Banks and banking activities in the Republic of Kazakhstan" and "On Microfinance activities", to which the right of claim for a loan (loan, microcredit) has been assigned;

3) a person who is an interconnected party for the borrower.

At the same time, they are not remuneration for loans (loans, micro-loans):

1) the amount of the loan (loan, micro-loan) to be paid (received);

2) adjustment (indexation) of the loan amount (loan, micro-loan) payable (received) in tenge due to a change in the exchange rate;

3) commission for money transfer by second-tier banks.

3. Remuneration under a financial lease agreement is all payments related to the transfer of property under a financial lease agreement, in cases where such payments are made:

1) to the lessor;

2) a person who is an interconnected party for the lessee.

At the same time, they are not remuneration under a financial leasing agreement.:

1) the value at which such property was received (transferred) to financial leasing;

2) payments in connection with changes in the amount of lease payments when applying the coefficient (index) in accordance with the terms of the financial leasing agreement.

4. Remuneration for a deposit is all payments for a deposit in cases where such payments are made:

1) to the depositor (depositor);

2) a person who is an interconnected party to the person who accepted the deposit.

At the same time, the amount of the deposit is not considered a reward for the deposit.

5. Remuneration under an accumulative insurance contract is all payments related to an accumulative insurance contract, in cases where such payments are made:

1) to the insurer;

2) a person who is an interconnected party for the policyholder.

At the same time, the amount of the insured sum is not considered remuneration under the cumulative insurance contract.

6. Remuneration on debt securities is payments in the form of a discount on debt securities or a coupon on debt securities (taking into account the discount on debt securities or a premium from the cost of the initial placement and (or) the cost of acquisition) in cases where such payments are made:

1) the holder of debt securities;

2) a person who is an interconnected party for the person paying the remuneration.

7. Remuneration on a promissory note is all payments on a promissory note in cases where such payments are made:

1) to the holder of promissory notes;

2) a person who is an interconnected party for the drawee.

At the same time, the amount indicated in the bill is not considered remuneration for the bill.

8. The remuneration for repo transactions is the payment in the form of the difference between the closing price and the opening price of the repo.

9. Remuneration under Islamic rental certificates is all payments under Islamic rental certificates.

10. Remuneration paid under the bank account agreement is the bank's expenses for the payment of income provided for in the bank account agreement.

11. The definition of remuneration established by this article applies regardless of the legislation of the State in which it arises.

The Code of the Republic of Kazakhstan dated July 18, 2025 No. 214-VIII SAM.

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Republic of Kazakhstan

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From January 1, 2026, to invalidate the Code of the Republic of Kazakhstan dated December 25, 2017 "On Taxes and Other Mandatory payments to the Budget" (Tax Code) in connection with the entry into force of the Tax Code dated July 18, 2025 No. 214-VIII SAM.

Article 12. Advisory Council on Taxation of the Tax Code and Other Mandatory Payments to the Budget (Tax Code) of the Republic of Kazakhstan

1. In order to eliminate ambiguities, inaccuracies and contradictions that may arise during the fulfillment of tax obligations, as well as to prevent possible schemes of tax evasion and payments to the budget, the Government of the Republic of Kazakhstan has the right to establish a Tax Advisory Council.

2. The regulations on the Advisory Council and its composition are approved by the Government of the Republic of Kazakhstan.

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