In accordance with Article 403 of the Tax Code of the Republic of Kazakhstan, the basic tax deduction is provided in the amount of 30 times the monthly calculation index for each calendar month. At the same time, the total deduction amount for a calendar year cannot exceed 360 times the MCI.
The basic tax deduction is applied monthly and is not carried over to subsequent months.
Unlike the previous procedure, the new Tax Code does not provide for a mechanism for transferring the unused amount of the basic tax deduction to subsequent months of the calendar year.
In this regard, tax agents need to consider the following features::
— the basic tax deduction is applied within the income of the corresponding calendar month;
— the unused monthly deduction amount is not carried over to subsequent months;
— the total amount of the basic tax deduction for a calendar year cannot exceed 360 MCI.
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