Article 322. Deductions of a taxpayer carrying out insurance activities under insurance (reinsurance) contracts tax code of the Republic of Kazakhstan

Home / Codes / Article 322. Deductions of a taxpayer carrying out insurance activities under insurance (reinsurance) contracts tax code of the Republic of Kazakhstan

 1. a taxpayer who is an insurance, reinsurance organization or export credit agency of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan has the right to deduct the following expenses:

 1) insurance payments under insurance, reinsurance contracts;

 2) expenses related to insurance (reinsurance) activities on obligations for insurance losses incurred;

 3) in the form of a component of damage;

 4) financial expenses for insurance (reinsurance);

 5) depreciation of the best estimate of expected cash flows for the reinsurance asset;

 6) to reduce the risk adjustment for non-financial risk on the reinsurance asset;

 7) formation of a risk adjustment to a non-financial risk on the liability for losses caused;

 8) aquisition expenses;

 9) expenses in the form of depreciation of the margin under withheld reinsurance contracts;

 10) expenses for reimbursement of regression claims and losses to the reinsurer (subrogation);

 11) other expenses of the taxpayer related to activities aimed at generating income;

 12) expenses for the settlement of losses;

 13) non-cash expenses (attributable expenses) related to insurance (reinsurance) activities.

 2.expenses provided for in this article shall be determined in accordance with International Financial Reporting Standards and (or) the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting.

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

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases

______________________________

To recognize as invalid the Code of the Republic of Kazakhstan (tax code) of December 25, 2017 "on taxes and other mandatory payments to the budget" from January 1, 2026 in connection with the entry into force of the tax code of the Republic of Kazakhstan dated July 18, 2025 No. 214-VIII.

Article 322. The employee's income code of the Republic of Kazakhstan on taxes and other mandatory payments to the budget (tax code)

1. the income of the employee subject to taxation is the following income recorded by the employer who is a tax agent and recognized as expenses (expenses) in the accounting of the employer, including in accordance with the legislation of the Republic of Kazakhstan on accounting and financial reporting:

1) money in cash and (or) non-cash forms, subject to transfer by the employer to the ownership of the employee in connection with the existence of an employment relationship;

2) employee's income in kind in accordance with Article 323 of this code;

3) income of an employee in the form of material profit in accordance with Article 324 of this code.

The taxpayer's income received (subject to receipt) by a member of the board of directors or other management body that is not a higher management body is also recognized as the employee's income subject to taxation.

2.income received (subject to receipt) under an employment contract (contract) concluded in accordance with the legislation of the Republic of Kazakhstan or a foreign state is income subject to taxation of an employee received (subject to receipt) from persons who are not tax agents.

3. the employee's income subject to taxation does not include the following income:

1) income received by an individual from a tax agent under civil law contracts;

2) income in the form of pension payments, lump-sum pension payments;

3) income in the form of dividends, remuneration, winnings;

4) scholarships;

5) income under accumulative insurance contracts;

6) property income;

7) income of a resident migrant worker;

8) income of a person engaged in private practice;

9) income of an individual entrepreneur.

Note of the ZKAI! Article 323 as amended by the law of the Republic of Kazakhstan dated 10.12.2020 No. 382 – VI (effective from 01.01.2021).

On taxes and other mandatory payments to the budget (tax code) on customs regulation On Subsoil and subsoil use administrative procedural and procedural on Public Health and the health system Ecology social code Civil Criminal Procedure commentary on the criminal Criminal Code (comments) normative resolution of the Supreme Court, Republic of Kazakhstan

Objectives of Administrative Proceedings in Tax Disputes under the Administrative Procedural and Process-Related Code

Objectives of Administrative Proceedings in Tax Disputes under the Administrative Procedural and Process-Related CodeWhen the Administrative Procedural and Process-Related Cod...