Article 487. Methods for determining the amounts of Value Added Tax allowed for offsetting tax code of the Republic of Kazakhstan

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 1. the amount of Value Added Tax allowed for offsetting by a Value Added Tax Payer other than those specified in Item 3 of this article is determined by one of the following methods, unless otherwise provided by Item 2 of this article:

 by proportional method;

 determines the amounts of Value Added Tax on goods, works, services that are used or used for the purposes of taxable and non-taxable turnover by maintaining separate accounting.

 2. the following persons using the proportional method of offsetting have the right to determine the amounts of Value Added Tax allowed for offsetting for certain types of turnover by conducting separate offsetting:

 1) for turnover related to the receipt and sale of collateral property (goods) – banking organizations and organizations engaged in microfinance activities (with the exception of credit partnerships and pawnshops);

 2) the following::

 collateral property (goods)obtained as a result of the application of foreclosure on the rights of claim acquired from the parent bank on doubtful and hopeless assets;

 for transactions related to the acquisition, possession and (or) sale of property (goods) acquired by the parent bank as a result of the application of foreclosure on the pledged property and acquired by the subsidiary of the bank from the parent bank – a subsidiary of the bank acquiring doubtful and hopeless assets of the parent bank; subparagraph 2 applies until January 1, 2028.

3) for turnover related to the transfer of property to financial leasing – the lessor. The costs of the lessor in connection with the acquisition of property subject to financial leasing are considered as expenses incurred for the purposes of taxable turnover;

 4) for financing individuals and legal entities as a trade intermediary by providing a commercial loan without an agreement on the subsequent sale of goods to a third party in accordance with the banking legislation of the Republic of Kazakhstan – Islamic Bank;

 5) for transactions of purchase and sale of goods within the framework of financing of individuals and legal entities as a trade intermediary by providing a commercial loan on the terms of subsequent sale of goods to a third party in accordance with the banking legislation of the Republic of Kazakhstan-a payer of Value Added Tax;

 6) individual entrepreneurs and legal entities that have a license for tour operator activities (tour operator activities) in accordance with the legislation of the Republic of Kazakhstan, in order to provide tour operator services, keep records of goods, works, services separately from the rest of the activities. In order to provide the services of a tour operator, accounting for goods, works, services is carried out separately for turnover exempt from Value Added Tax and taxable turnover in accordance with subparagraph 10) of Article 474 of this code;

 7):

 collateral property (goods)received from such a bank on the rights of claim for assets purchased from the bank;

 an organization specializing in improving the quality of credit portfolios of second-tier banks, which as a result of the application of foreclosure on pledged property, has become the property of the bank and is the sole shareholder of the Government of the Republic of Kazakhstan, for turnover related to the acquisition, possession and (or) sale of property (goods) acquired by such a bank on doubtful and hopeless assets – an organization specializing in improving the quality of credit portfolios of second-tier banks, the sole shareholder of which is the Government of the Republic of Kazakhstan, using a proportional method of offsetting. Subparagraph 7 is valid until January 1, 2029

 3.a person carrying out the construction of Objects is obliged to carry out separate accounting of the amounts of Value Added Tax on goods, works, services that are being or used in the process of construction of each construction object for the construction objects intended for sale.

 By other turnover, such a person has the right to determine the amount of Value Added Tax, which is allowed to be offset by a proportional method in accordance with article 488 of this code.

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

President

Republic of Kazakhstan

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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 487. Payment of Social tax code of the Republic of Kazakhstan on taxes and other mandatory payments to the budget (tax code)

1.payment of Social tax is made at the location of the taxpayer no later than the 25th day of the month following the tax period.

2.payment of Social tax on objects of taxation that are expenses of a structural (territorial) subdivision is made at the location of such a structural (territorial) subdivision.

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