of November 16, 2011 No. HK-21-30/12496
In February, 2008 the physical person realized the house with the parcel of land. This real estate object was legalized and registered in authorized body in September, 2007. When carrying out legalization by physical person the cost was independently determined at 100 000 tenges. Whether there is property income at physical person in this case and how the specified income is determined? If does not arise in this case, then when there is income?
According to Item 2 of Article 118 of the Civil code of the Republic of Kazakhstan the rights (encumbrance of the rights) to real estate arise, change and stop from the moment of state registration if other is not established by this Code and the Law of the Republic of Kazakhstan "About state registration of the rights to real estate". If registration it is not refused, the moment of state registration the moment of filing of application is recognized.
Thus, the property right to property comes from the moment of state registration.
According to the subitem 1) of article 163 of the Code of the Republic of Kazakhstan "About taxes and other obligatory payments in the budget", in the edition operating till January 1, 2009 (further - the Tax code of 12.06.2001) the property income belongs to the income which is not assessed at payment source.
According to the subitem 1) of Item 1 of article 166 of the Tax Code of 12.06.2001 also the increase in value in case of realization of the property which is not used in business activity, except for property, redeemed for the state needs according to the legislation of the Republic of Kazakhstan, including the real estate which is on the property right less than one year belongs to the property income of the taxpayer.
By Item 2 of article 166 of the Tax Code of 12.06.2001 it is determined that the income from increase in value in case of realization of the property specified in the subitem 1) of Item 1 of this Article is the positive difference between realization value of property and cost of its acquisition.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.