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

Article 233. Income from the assignment of the right of claim

1. Unless otherwise established by this Article, the income from the assignment of the right of claim shall be:

1) for a taxpayer acquiring the right of claim - the positive difference between the amount to be received from the debtor upon demand of the principal debt, including the amount in excess of the principal debt on the date of assignment of the right to claim, and the cost of acquiring the right to claim;

2) for a taxpayer who has ceded the right of claim - the positive difference between the value of the right of claim, for which the assignment was made, and the value of the claim to be received from the debtor on the date of assignment of the right of claim, in accordance with the taxpayer's primary documents.

Income from the assignment of the right of claim shall be recognized in the tax period in which the assignment of the right of claim is made.

2. Income from the assignment of the right of claim to a taxpayer who acquires the right to claim on loans (loans, microloans) and specified in the laws of the Republic of Kazakhstan " On Banks and Banking Activities in the Republic of Kazakhstan" and " On Microfinance Activities" shall be a positive difference between the amount actually paid the debtor, and the cost of acquiring the right to claim.

Income from the assignment of the right of claim shall be recognized in the tax period in which the positive difference arises (increases). Herewith, the positive difference, previously recognized in previous tax periods, shall not be taken into account.

3. Income from the assignment of the right of claim of a taxpayer acquiring the right of claim on credits (loans, microloans) from an organization specializing in improving the quality of loan portfolios of second-tier banks, whose sole shareholder is the Government of the Republic of Kazakhstan, is a positive difference between the amount actually paid by the debtor, and the cost of acquiring the right of claim.

Income from the assignment of the right of claim shall be recognized in the tax period in which the positive difference arises (increases). Herewith, the positive difference previously recognized in previous tax periods shall not be inclusive.

Footnote. Article 233 as amended by Law of the Republic of Kazakhstan No. 262-VI dated 03.07.2019 (shall be enforced since 01.01.2020); dated 10.12.2020 No. 382-VI (effective from 01.01.2021).