The Department of State Revenues for Almaty has announced that new tax regulations will come into effect in Kazakhstan starting January 1, 2025. These changes pertain to tax deductions for large families, education expenses, and mortgage loans, as reported by a correspondent from the business information center Kapital.kz, citing the department's press service.
Tax Deduction for Large Families
The tax deduction for large families applies to both parents, amounting to no more than 282 MRP, as determined for the calendar year, in one of the following cases: - for one parent, an amount of 23 MRP (in 2025 – 90,436 tenge) for each month; - for each parent, an amount of 12 MRP (in 2025 – 47,184 tenge) for each month.
The tax deduction is applicable if an individual has four or more dependent children under the age of majority as of January 1 of the calendar year in which the deduction is claimed, which must be verified with copies of birth certificates.
“Thus, an additional amount of about 90,000 tenge per month is exempt from taxation, which means that 9,000 tenge less income tax will be paid monthly,” the Department of State Revenues explained.
Tax Deduction for Education
The education tax deduction applies to expenses for: - preschool education and training; - technical and vocational education; - post-secondary and higher education.
The deduction can be claimed by an individual for their own education or by a legal representative for the education expenses of a dependent under 21 years of age. The deduction is limited to no more than 118 MRP, as determined for the calendar year. Supporting documents include a service agreement and proof of payment.
Tax Deduction for Rewards
The Department of State Revenues reminded that until the end of 2024, the deduction for mortgage rewards was only available for loans from the Otbasy Bank.
“Starting in 2025, the tax deduction will apply to mortgage loans taken out at any bank. This means that when obtaining mortgage housing loans from any bank, citizens will be able to utilize their right to a deduction for rewards. To claim the deduction, employees must submit a request for a tax deduction along with supporting documents to the HR department or accounting,” the department clarified.
Supporting documents include: the mortgage housing loan agreement; the repayment schedule for the mortgage housing loan; proof of payment.
A tax deduction (TD) is the amount by which taxable income is reduced. The individual income tax (IIT) rate in Kazakhstan is 10%.