Imagine sending money to a friend for their birthday or assisting a family member who is in trouble, and your account is suddenly on the Administration’s radar.
This is the concern that many Kazakhstan citizens have following the implementation of new tax regulations for mobile transfers in 2025. But should you be worried? Let us clarify everything so you don’t have any doubts!
Are all transfers going to be reviewed?
It is true that transfers will be reviewed, but not all of them, so let us explain: the transfers that will be scrutinized follow a specific pattern: if you receive money from more than 100 different people in less than three months, you may be subject to a “camera control.”
This does not imply that all transfers are taxed; rather, the goal is to identify undeclared commercial activities.
If you are concerned that sending or receiving money between friends or family will get you in trouble, you can relax. Personal transfers are not under the taxman’s radar. The emphasis is on those who run informal businesses and avoid paying taxes.
So, which transfers are exempt?
If you are not a business owner (i.e., you do not have a limited liability partnership [LLP] registered in your name), you can continue to transfer funds to family and friends without incurring taxes. Similarly, there are several exemption points.
If you organize collections for medical expenses or charitable causes, these transfers will not be monitored.
Money sent to help a friend, a birthday gift, or a family contribution will not cause concern.
Will there be limits on personal transfers?
The government is considering limiting non-business transfers on a monthly or quarterly basis, but the details are still unclear, so no for the time being.
The goal is to prevent some users from using the system for business purposes without properly declaring taxes.
Can this affect me?
If you use mobile transfers to pay bills or send gifts, you can rest easy! However, using a personal account to run a business without declaring it… It’s time to settle your affairs.
These rules are more than just a challenge; seize the opportunity to formalize your economic activity!! These measures may appear strict, but they also pave the way for a more organized and equitable system for all.
So, while it may appear that they want to complicate our lives, they are actually preparing a more fair and equitable system for everyone!
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