Article 368. Terminated obligations of an individual that are not his income of the Tax Code of the Republic of Kazakhstan
The following types of material benefits received in accordance with the legislation of the Republic of Kazakhstan are not considered income of an individual:
1) the amount of obligations terminated in accordance with the civil legislation of the Republic of Kazakhstan for a loan (loan, mortgage loan, housing mortgage loan, microcredit), including principal debt, remuneration, commission and penalty (penalties, fines), in the following cases that occurred after the issuance of the loan (loan, mortgage loan, mortgage housing loan, microcredit) to such a person in the following cases:
recognizing an individual borrower as missing, incapacitated, or with limited legal capacity on the basis of a court decision that has entered into legal force, or declaring him deceased on the basis of a court decision that has entered into legal force;
the establishment of a disability of the first or second group for an individual borrower, as well as in the event of the death of an individual borrower;
the absence of other income from an individual borrower receiving social benefits in accordance with the Social Code of the Republic of Kazakhstan in cases of loss of a breadwinner, income due to pregnancy and childbirth, adoption of a newborn child (children), child care after reaching the age of one and a half years, except for the specified payments;
the entry into force of the bailiff's decision on the return of the enforcement document to the bank (microfinance organization, mortgage organization) in the event that the individual borrower and third parties jointly responsible with the individual – the borrower is jointly and severally or vicariously liable to the bank (microfinance organization, mortgage organization) if there is no property, including money, securities, or income that can be foreclosed on, and measures to identify his property or income taken by the bailiff in accordance with the legislation of the Republic of Kazakhstan on enforcement proceedings and the status of judicial proceedings performers, turned out to be unsuccessful;
the sale of mortgaged property, which fully secured the main obligation at the time of the conclusion of the mortgage agreement, at an out-of-court auction at a price lower than the amount of the main obligation, as well as upon the transfer of such property to the ownership of the mortgagee in accordance with the Law of the Republic of Kazakhstan "On Mortgage of Immovable Property" for the amount of the outstanding loan (mortgage loan, housing mortgage loan, microcredit) after the sale of the mortgaged property.
The provisions of paragraphs five and six of part one of this subparagraph do not apply to the termination of obligations under a loan (loan, mortgage loan, housing mortgage loan, micro-loan):
issued to an employee of a bank (mortgage organization, microfinance organization), spouse, close relatives of an employee of a bank (mortgage organization, microfinance organization), an interconnected party of the bank (mortgage organization, microfinance organization);
for which the assignment of the right of claim and (or) the transfer of debt have been made;
2) income generated upon termination of loan obligations, the right of claim for which was acquired by an organization specializing in improving the quality of loan portfolios of second-tier banks, the sole shareholder of which is the Government of the Republic of Kazakhstan, in the form of:
principal debt forgiveness;
forgiveness of arrears of remuneration, commission, penalty (fines, fines); Subparagraph 2 is valid until January 1, 2029
3) cancellation of the obligations of the debtor, in respect of which the bankruptcy or restoration of solvency procedure has been applied in accordance with the Law of the Republic of Kazakhstan "On restoration of solvency and Bankruptcy of citizens of the Republic of Kazakhstan".
The Code of the Republic of Kazakhstan dated July 18, 2025 No. 214-VIII SAM.
President
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 368. Objects of taxation of the Code on Taxes and Other Mandatory Payments to the Budget (Tax Code) of the Republic of Kazakhstan
The objects of value added tax are:
1) taxable turnover;
2) taxable imports.
On taxes and other mandatory payments to the budget (Tax Code) On Customs Regulation On Subsoil and Subsurface Use Administrative Procedural and Procedural On the Health of the People and the Healthcare System Ecological Social Commentary Article Civil Procedural Civil Code of Criminal Procedure Criminal Regulatory Decision of the Supreme Court
