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

Article 240. Income (loss) from the sale of an enterprise as a property complex

1. Income from the sale of an enterprise as a property complex is determined as a positive difference between the sales value under a contract of sale of the enterprise as a property complex and the book value of transferred assets reduced by the book value of transferred liabilities according to the accounting data as of the date of the sale.

2. Loss from the sale of an enterprise as a property complex is determined as a negative difference between the sales value under a contract of sale of the enterprise as a property complex and the book value of transferred assets, reduced by the book value of transferred liabilities according to the accounting data as of the date of the sale.

Loss from the sale of an enterprise as a property complex is carried forward or back in the manner prescribed by Article 300 of this Code.
Article 241. Adjustment of total annual income

1. Unless otherwise established by paragraph 2 of this article, the following shall be excluded from the total annual income of taxpayers:

1) dividends;

2) excluded by the Law of the Republic of Kazakhstan dated 10.12.2020 No. 382-VI (effective from 01.01.2020);




3) is the amount of mandatory calendar, additional and emergency contributions of banks received by organizations for mandatory insurance of deposits of individuals;

4) the amount of guarantee contributions received by the housing construction Single operator, within the funds aimed at increasing the reserve for the settlement of warranty claims in accordance with the Law of the Republic of Kazakhstan On Equity Participation in Housing Construction;

5) is the amount of mandatory, additional and emergency contributions of insurance organizations received by the Insurance Payments Guarantee Fund;

6) is the amount of money received by an organization for mandatory insurance of deposits of individuals and the Insurance Payments Guarantee Fund to satisfy their claims for reimbursed deposits and guarantee and compensation payments given out;

7) the amount of money received by the Single operator of housing construction to satisfy claims for payments upon completion of the construction of multi-apartment residential buildings in accordance with the Law of the Republic of Kazakhstan On Equity Participation in Housing Construction;

8) is investment income received in accordance with the legislation of the Republic of Kazakhstan on pensions and transferred to individual pension accounts;

9) is investment income received in accordance with the legislation of the Republic of Kazakhstan on compulsory social insurance and aimed at increasing the assets of the State Social Insurance Fund;

10) is investment income received in accordance with the legislation of the Republic of Kazakhstan on compulsory social health insurance and aimed at increasing the assets of the Social Health Insurance Fund;

11) investment income received by:

joint-stock investment funds from investment activities in accordance with the legislation of the Republic of Kazakhstan on investment and venture funds and accounted for by the custodian of the joint-stock investment fund;

investment funds registered in accordance with the current law of the ASTANA International Financial Center and accounted for by the custodian or management company of the investment fund;

12) is income from the assignment of the right ofclaim of debt received by a special financing company under a securitization transaction in accordance with the legislation of the Republic of Kazakhstan on project financing and securitization;

13) is net income from trust management of property (to be) received by atrust management founder;

14) excluded by the Law of the Republic of Kazakhstan dated 24.06. 2021 No. 53-VII (effective from 01.01.2022);




15) is the amount of annual mandatory contributions received by the fund guaranteeing the fulfillment of obligations for grain receipts from grain collecting stations;

16) the amount of money received by the Fund for Guaranteeing the Fulfillment of Obligations on Grain Receipts to satisfy claims on guarantee payments made;

17) is income of the state Islamic special-purpose financial company received from renting property and (or) sale of immovable property specified in subparagraph 6) of paragraph 3 of Article 519 of this Code, including land plots;

18) is income received by an Islamic bank in the process of managing money in the form of investment deposits sent to these investment deposit accounts and available in them. Such income does not include the interest of an Islamic bank;

19) is income from the assignment of the right of claim of debt received by an Islamic special-purpose financial company established in accordance with the legislation of the Republic of Kazakhstan on the securities market;

20) is income of an organization for mandatory insurance of deposits of individuals received as a result of placement of special reserve assets, and also in the form of a penalty applied to second-tier banks for failure to fulfill or improper fulfillment of obligations under an accession agreement in accordance with the Law of the Republic of Kazakhstan “On Mandatory Insurance of Deposits Placed with Second-Tier Banks of the Republic of Kazakhstan”.

The provisions of this subparagraph shall be valid provided the said income goes to increase the special reserve;

21) is income of an autonomous cluster fund designated by the legislation of the Republic of Kazakhstan on the innovation cluster, which is received from the state budget in the form of a targeted transfer solely for the establishment of joint ventures with the participation of transnational corporations, as well as for participatory interest in foreign investment funds;

22) investment income of the Single operator of housing construction in accordance with the Law of the Republic of Kazakhstan On Equity Participation in Housing Construction, within the funds allocated to increase the reserve for the settlement of warranty claims;

23) is income of a non-commercial organization provided for by paragraph 2 of Article 289 of this Code, given the observance of the provisions set forth in Article 289 of this Code;

24) is income of the attorney (agent) of the authorized body in the field of education in the form of an awarded penalty in connection with implementation of the activity on the reimbursement of budget expenses, as well as for the return of state tuition and state student loans;

Subparagraph 25) shall remain in force before 01.01.2029 in accordance with the Law of the Republic of Kazakhstan dated 26.12.2018 No. 203-VI.




25) the value of property received without charge by a venture fund established in accordance with the legislation of the Republic of Kazakhstan and intended for transfer without charge to legal entities specified in Subparagraph 6) of Paragraph 1 of Article 293 of this Code.

26) investment income of the Insurance Payments Guarantee Fund in accordance with the Law of the Republic of Kazakhstan On Insurance Payments Guarantee Fund within the funds allocated to increase the reserve for damages and the reserve for guaranteeing insurance payments;

27) income generated upon termination of obligations in accordance with the civil legislation of the Republic of Kazakhstan on a credit (loan, microcredit) issued by a bank (microfinance organization), in the form of:

forgiveness of the main debt;

forgiveness of debt on remuneration, commission, forfeit (penalty, fine);

income received by the borrower as a result of payment for such a person by a bank, an organization performing certain types of banking operations, also by a collection agency, of the state fee levied on a statement of claim filed with the court.

28) was valid until 01.01.2023 in accordance with the Law of the Republic of Kazakhstan dated 11.07.2022 No. 135-VII (effective from 01.01.2023).

Part two of paragraph 1 is in effect until 01.01.2027 according to Law of the Republic of Kazakhstan № 121-VI as of 25.12.2017.




Subject to exclusion from total annual income of a bank’s subsidiary acquiring doubtful and bad assets of its parent bank is income from the activities specified in the legislation of the Republic of Kazakhstan on banks and banking activity included in total annual income of such an organization and transferred to its parent bank.

Part three of paragraph 1 is in effect until 01.01.2027 according to Law of the Republic of Kazakhstan № 121-VI as of 25.12.2017.




In this case, the assignment of income to be received to income from the implementation of activities provided for by the legislation of the Republic of Kazakhstan on banks and banking activities shall be carried out in the manner determined by the authorized body for regulation, control and supervision of the financial market and financial organizations in agreement with the authorized body.

Part four of paragraph 1 is in effect until 01.01.2027 according to Law of the Republic of Kazakhstan № 121-VI as of 25.12.2017.




Subject to exclusion from total annual income of a bank is income from the assignment of the right of claim obtained in connection with the repurchase of rights to claim credits (loans) earlier assigned toan organization for improving the quality of loan portfolios of second-tier banks, whose sole shareholder is the Government of the Republic of Kazakhstan, from such an organization.

2. It is not allowed to exclude from total annual income dividends:

1) excluded by the Law of the Republic of Kazakhstan dated 10.12.2020 No. 382-VI (effective from 01.01.2020);

2) excluded by the Law of the Republic of Kazakhstan dated 11.07.2022 No. 135-VII (effective from 01.01.2023);




3) received by a permanent establishment of a non-resident legal entity in the Republic of Kazakhstan. At the same time, the provisions of this subparagraph shall not apply to dividends when the conditions specified in subparagraph 3) of paragraph 9 of Article 645 of this Code are met;

4) received on securities that on the date of accrual of such dividends are in the official list of stock exchanges operating in the territory of the Republic of Kazakhstan.

The provision of part one of this subparagraph shall not apply to dividends on securities, which were traded on the stock exchange during the taxable period in accordance with the criteria determined by the Government of the Republic of Kazakhstan.

3. When switching to an inventory costing method other than that used by a taxpayer in previous taxable period, the taxpayer’s total annual income shall be increased by the positive difference amount and decreased by the negative difference amount appearing as a result of applying the new costing method.

The taxpayer shall switch to a different inventory costing method in the beginning of a taxable period.

Footnote. Article 241 as amended by the Law of the Republic of Kazakhstan dated 04.07.2018 No. 174-VІ (shall be enforced upon expiry of ten calendar days after its first official publication); No. 203-VI dated 26.12.2018 (shall be enforced since 01.01.2019); No. 262-VI dated 03.07.2019 (shall be enforced since 01.01.2020); dated 10.12.2020 No. 382-VI (enforcement, Article 2); dated 24.06. 2021 No. 53-VII (effective from 01.01.2022); dated 11.07.2022 No. 135-VII (enforcement, see art. 3)

Subchapter 2. Deductions