A proposal in Kazakhstan would allow digital asset owners to resolve tax liabilities arising from past transactions by disclosing their assets and transferring them in full from foreign or other unregulated platforms to licensed Kazakhstani digital asset service providers. The proposal is included in amendments to the Tax Code.
Tax relief for digital asset owners
Under the proposal, if an individual transfers all of their digital assets from unlicensed platforms to licensed digital asset service providers by Dec. 31, 2028, any outstanding taxes associated with those assets would not be treated as tax debt.
The proposal would also write off accrued interest and penalties related to tax violations involving income from digital asset transactions.
Additionally, income earned by individuals from digital asset transactions conducted through licensed service providers would be eligible for a deduction from taxable income for the period from Jan. 1, 2026, through Dec. 31, 2028.
Disclosure of previously acquired assets
A separate provision would add Article 847-2 to the Tax Code, establishing rules for individuals who wish to disclose previously acquired or received digital assets.
To qualify for the proposed tax benefits, an individual would have to declare the assets for the first time by Sept. 15, 2027, and transfer 100% of their digital assets from foreign or other unregulated platforms to licensed digital asset service providers.
Once these conditions are met, the state would not:
- Reassess taxes on digital asset transactions for periods before Jan. 1, 2027.
- Conduct tax audits related to such transactions for those periods.
- Impose individual income tax (IIT) on income derived from the acquisition, receipt or sale of digital assets for periods before Jan. 1, 2027.
Individuals would still be required to comply with legislation on preventing money laundering and the financing of terrorism.
Conditions for the exemption
The exemption would not apply if, after an individual declares their assets, authorities determine that the person has retained any portion of those assets on an unregulated platform. In such cases, the assets would be subject to taxation and tax audits under standard rules.
Any IIT already paid on such income would not be refunded or credited against other tax liabilities.
Bringing digital assets into the regulated sector
The amendments state that users of global crypto platforms are reluctant to transfer their assets to licensed platforms because of concerns about potential tax liabilities and requirements to verify the source of funds.
The authors of the amendments estimate that about 47% of digital asset turnover remains in the «gray» sector.
The proposed changes are intended to encourage digital asset owners to disclose previously undeclared holdings and move them to licensed platforms within Kazakhstan’s regulated digital asset market.
