Dear taxpayers,

A pension annuity is an agreement with an insurance company under which payments provided for in the contract are made to a citizen. At the same time, such payments may have a different nature, therefore, the procedure for their taxation may differ.

If we are talking directly about the insurance payment, a special taxation procedure is applied, provided for by the Tax Code. In particular, articles 435 and 439 establish rules for determining income from which individual income tax (IIT) is withheld.

However, the contract may provide for an additional payment at the expense of the insurance company's profits. In the contract, such payment may be referred to as "insurance dividends".

According to paragraph 5 of Article 439 of the Tax Code, the specified income is subject to taxation at the source of payment of individual income tax.

Source : https://www.gov.kz/memleket/entities/kgd-sko/press/news/details/1280859?lang=ru