State Revenue Committee

of the Ministry of Finance of the Republic of Kazakhstan

PRESS RELEASE

What tax benefits are used by individuals for mortgage loans

An individual who received a mortgage loan at “Housing Construction Savings Bank” JSC is entitled to apply the tax deduction for interest payments.

Since tax deductions for interest payments are applied by a tax agent (employer) at the source of payment, individuals must submit the following documents to the tax agent (employer) to use the tax benefit:

1) the application of an individual on applying tax deductions;

2) copies of supporting documents.

The supporting documents for the application of the tax deduction for interest payments are:

1) housing mortgage loan agreement with “Housing Construction Savings Bank” JSC for carrying out activities to improve housing conditions in the Republic of Kazakhstan;

2) the repayment schedule of the housing mortgage loan highlighting of the amount of interest;

3) a document confirming interest payments on such a loan (receipt).

The copies of such documents are kept by the tax agent during the limitation period, i.e. within five years.

It should be noted that an individual is entitled to apply this tax deduction only for one tax agent (employer).

The tax deduction for interest payments is applied by an individual on the costs of repayment for housing mortgage loans received in housing construction savings banks for carrying out activities to improve housing conditions in the Republic of Kazakhstan, made in their favour.

Starting from January 1, 2020, an individual will be entitled to apply the tax deduction for interest payments of a mortgage housing loan received from other banks and organizations carrying out certain types of banking operations.

Press Service

of the State Revenue Committee MF RK

(Zhenis Ave, 11)