Introduction to Crypto Taxation in Kazakhstаn

IPN for citizens of Kazakhstan in relation to income received from cryptocurrency trading on the crypto exchange platform

According to Articles 331 and 332 of the Tax Code of the Republic of Kazakhstan, income from the sale of digital assets or cryptocurrencies by individuals is classified as property income.

When digital assets are sold, income is generated from the value gain, regardless of the holding period.

The income from the value gain is defined as the positive difference between the selling price and the acquisition cost of the asset.

According to Article 320 of the Tax Code, value gain income is subject to IPN at a rate of 10%.

Tax obligations are fulfilled by individuals independently.

Clients of crypto exchanges in Kazakhstan are responsible for independently paying IPN arising from the value gain on the sale of digital assets.

Example:

During the year, you purchased cryptocurrency for 100,000 tenge. By the end of the year, its value increased to 150,000 tenge.

You sold cryptocurrency and converted it into fiat currency, transferring the amount to your bank account.

The taxable income in this case is the value gain (excluding any withdrawal fees):

Value Gain: 150,000 – 100,000 = 50,000 tenge

Tax: 50,000 × 10% = 5,000 tenge

If the value of assets decreases at the time of sale and no value gain occurs, no tax is due.

It is important to note that the crypto exchange is not a tax agent, and the responsibility for tax payment lies solely with the client.

Value gains from the sale of digital assets must be reported in the individual's tax declaration.

For 2024, an IPN declaration must be submitted using Form 240.00 by March 31, 2025.

If participating in universal income declaration, a declaration of income and property must be submitted using Form 270.00 by September 15, 2025.

Bybit Kazakhstan provides clients with transaction records for reporting purposes. These documents confirm the completion of transactions and the exchange’s registration and accounting of the sale of digital assets.

The transaction record can be downloaded from the “Asset Information” page on the crypto exchange's website.