LETTER OF THE TAX COMMITTEE OF THE MINISTRY OF FINANCE OF PK

of June 19, 2010 No. HK-11-19/7278

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan in execution of the order of the Vice-Minister of Finance of the Republic of Kazakhstan Dalenov R. E. having considered your application of June 7, 2010, reports the following.

According to Item 1 of article 416 of the Code of the Republic of Kazakhstan "About taxes and other obligatory payments in the budget" (Tax code) the additional payment is estimated in case of the excess of income amount received from activities in the sphere of gaming over limiting income amount, stipulated in Item 2 these Articles.

So, according to the subitem 4) of Item 2 of the specified Article from activities of limiting bookmaker office the income size for tax period for taxpayers on gaming constitutes 2 000 - the multiple size of the monthly settlement indicator established for the corresponding financial year by the law on the republican budget.

Item 1 of article 417 of the Tax Code provides that the additional payment is estimated by application to the amount of limiting excess of the size of the income of rate, stipulated in Item 1 article 147 of this Code (15%), and is subject to payment no later than the 25th day of the second month following accounting tax period.

At the same time, according to Item 2 of article 13 of the Law of the Republic of Kazakhstan of February 28, 2007 "About financial accounting and the financial reporting" the income - increase in economic benefits during the accounting period in the form of inflow or increments of assets or reduction of obligations which lead to the increase in the capital other than the increase connected with fees of persons participating in the capital.

According to Article 414 of the National accounting standard No. 2, of the Minister of Finance of the Republic of Kazakhstan approved by the order of 21.06.2007 No. 217, the subject includes in the income only gross receipts of economic benefits received and subjects to obtaining on behalf of the subject.

It is also necessary to note that the tax legislation does not provide deductions in case of calculation of additional payment on tax on gaming.

Based on stated, income gained from activities in the sphere of gaming the amount of the gross receipts received by the taxpayer on gaming in the form of rates of physical persons (players) taking into account the prizes paid to them is recognized.

Isp. Mukashev R. of Ph. 71-82-14

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