On taxes and other obligatory payments to the budget (Tax Code)

Article 332. Income of an individual from the sale of property, received from sources outside the Republic of Kazakhstan

1. Unless otherwise established by this article and Article 331 of this Code, income of an individual in the sale of property, received from sources outside the Republic of Kazakhstan is the selling price of the property.

2. Income of an individual in the sale of property, received from sources outside the Republic of Kazakhstan is defined as positive difference between the selling price of the property and the value of its acquisition when selling the property:

1) located outside the Republic of Kazakhstan, rights to which and (or) transactions for which are subject to state or another registration with the competent authority of a foreign state in accordance with the legislation of a foreign state;

2) located outside the Republic of Kazakhstan, subject to state or another registration with the competent authority of a foreign state in accordance with the legislation of a foreign state.

3. In cases of sale of property legalized in the manner prescribed by the Law of the Republic of Kazakhstan “On Amnesty to citizens of the Republic of Kazakhstan, kandases and persons having a residence permit in the Republic of Kazakhstan, due to legalization of their property” by a person who legalized it,when the price (value) of its acquisition is not available and the obligation for the payment of the legalization fee is fulfilled, income from increase in value is positive difference between the selling price (value) of property and the appraised value in tenge determined for the calculation of the legalization fee for the property sold.

4. Income of an individual in the sale of securities, except for debt securities received from sources outside the Republic of Kazakhstan, is determined as positive difference between the selling and purchase prices.

5. Income of an individual in the sale of debt securities received from sources outside the Republic of Kazakhstan is determined as positive difference ex coupon between the selling and purchase prices with account of amortization of the discount and (or) premium as of the date of sale.

6. Income of an individual in the sale of a participatory interestreceived from sources outside the Republic of Kazakhstan is determined as positive difference between the selling price and that of acquisition (contribution).

7. The provision of paragraph 2 of this article does not apply if:

1) immovable property is located in the territory of a state with preferential taxation;

2) the rights to movable property or movable property transactions are registered with the competent authority of a state with preferential taxation.

8. The provisions of paragraphs 4, 5 and 6 of this article shall not apply if the income specified in paragraphs 4, 5 and 6 of this article is received from sources in a state with preferential taxation.

9. The provisions of paragraphs 2, 4, 5 and 6 of this article shall be applied on the basis of the following documents, which confirm:

1) the price of acquisition of property (value of contribution);

2) the selling price of property;

3) registration by the competent authority of a foreign state of property and (or) the ownership right to property, and (or) property transactions in accordance with the legislation of a foreign state.