Tengrinews.kz — Kazakhstan is proposing to temporarily exempt citizens from paying individual income tax (IIT) on income from transactions involving digital assets. The relevant amendments have been included in a new package of changes to the draft Tax Code, citing the government’s press service.
The initiative was reviewed at the 21st meeting of the Project Office for the implementation of the new Tax Code, chaired by Deputy Prime Minister and Minister of National Economy Serik Zhumangarin.
Which income may be exempt from tax
The amendments propose not levying IIT on income received by individuals from transactions involving digital assets, provided the transactions are carried out through Kazakhstani digital asset service providers.
The tax benefit is planned for three years — from January 1, 2026, to December 31, 2028.
The measure is aimed at encouraging the legal circulation of digital assets in Kazakhstan.
What else is proposed to change
The new package includes 45 amendments developed following the work of the Project Office, specialized working groups, and in line with instructions from the Head of State, the government and the Prime Minister.
Some of the changes concern investment policy. In particular, it is proposed to restore the mechanism for concluding investment priority contracts and investment agreements with a full package of tax preferences.
In addition, investors may be allowed to independently build the necessary infrastructure for projects, with subsequent reimbursement of costs through corporate income tax deductions.
What other tax benefits are included in the package
The package also includes previously approved initiatives, including:
- the introduction of an additional deduction for expenses related to product labeling;
- expanded IIT deductions for persons with disabilities;
- the restoration of exemptions for certain income from social tax;
- the exemption of factoring and forfaiting from VAT;
- adjustments to the procedure for offsetting VAT on agricultural products;
- the introduction of an excise tax on fruit wines.
In addition, amendments are proposed to further digitalize tax administration, improve tax procedures and address problems identified in the application of the current Tax Code.
At the same time, some initiatives still need to be discussed with business representatives. Their refinement will continue within the Project Office before the bill is submitted for consideration.