Changes in the rules for currency transactions from January 1, 2025

The Rules for currency transactions in the Republic of Kazakhstan dated 30.03.2019 № 40 were modified regarding the processing of currency transfers and conversions from January 1, 2025.

According to paragraph 10 of Rules №40, resident companies are required to attach a proof of payment (agreement, contract, invoice) when making international transfers and accepting incoming currency payments outside of a contract with PPC from sections 4–8.

According to paragraph 20 of Rules №40, if a resident legal entity purchases foreign currency for tenge in one business day in the amount of more than 50 000 US dollars in equivalent (by one or several applications), and the purchased currency will not be used within 10 business days, it is automatically converted to tenge. Conversion is carried out on the next working day at the market exchange rate
established in the period from 11:00 to 12:00.

According to paragraph 22 of Rules №40, resident companies should indicate in the purpose of payment one of the following options when transferring their own funds:

1. Transfer of own funds, [amount] [currency] was purchased on [date of purchase] under contract № ... dated ...
2. Transfer of own funds, export revenue
3. Transfer of own funds, currency was purchased for amounts/amount less than 50 000 US dollars
4. Transfer of own funds, money from deposit