The Law of the Republic of Kazakhstan No. 165-VII of December 21, 2022 amended the Tax Code on the calculation of taxes when providing or receiving charitable assistance. The innovation will be introduced from January 1, 2019. This was reported in the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan.
In accordance with the new version of Article 1 of the Tax Code, the transfer of property on a gratuitous basis to an individual who has suffered as a result of an emergency situation for tax purposes is recognized as charitable assistance.
A legal entity with one hundred percent state participation in the authorized capital does not recognize the value of property, the cost of capital repairs and reconstruction of state property objects received free of charge from a non-profit organization established in the form of a foundation as income under the CPN.
A non-profit organization established in the form of a foundation is exempt from VAT when transferring goods, works, and services free of charge as part of charitable assistance.
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