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LETTER OF THE TAX COMMITTEE OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of January 12, 2009 No. HK-25-24/98

Tax departments on areas, Astana and Almaty, in the territory of special economic zones

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan for the purpose of carrying out explanatory work and promotion of the measures promoting timely execution of the tax liabilities charges to place in regional mass media Article concerning timely representation of calculation of the amounts of advance payments for the corporate income tax for 2009.

Acting vice-chairman T. Botakanov

Appendix

Dear taxpayers!

The Tax Committee of MF RK brings to your attention that according to article 16 of the Law of the Republic of Kazakhstan of 10.12.2008 «About enforcement of the Code of the Republic of Kazakhstan «About taxes and other obligatory payments in the budget (Tax code)» (further - the Law) calculation of the amount of advance payments for the corporate income tax which is subject to payment for the period before delivery of the declaration on the corporate income tax for the previous tax period is represented for the first quarter of accounting tax period no later than January 20 of accounting tax period in tax authority in the location of the taxpayer.

At the same time we report that according to Item 2 of article 141 of the Tax Code has the right not to estimate and not to pay advance payments on the corporate income tax the following taxpayers:

At which 1) the gross annual income taking into account adjustments for the tax period preceding the previous tax period does not exceed the amount equal to the 325000-fold size of the monthly settlement indicator established for the corresponding financial year by the law on the republican budget. For example, in case of determination of question of need of representation of advance payments for 1 quarter 2009 it is necessary to determine whether exceeds gross annual income for 2007 taking into account adjustments the amount equal of 354 900 000 tenges (325 000*MRP 2007 g - 1092 tenges);

2) newly created taxpayers - during tax period in which the state (accounting) registration in judicial authority, and also during subsequent tax period is performed;

3) the legal nonresident persons who are again registered in tax authorities as taxpayers performing activities in the Republic of Kazakhstan through permanent organization without opening of branch, representation - during tax period in which registration in tax authorities, and also during subsequent tax period is performed.

In case of provision of calculation of the amounts of advance payments (article 16 of the Law):

1. The amount of advance payments on the corporate income tax which is subject to payment for the period before delivery of the declaration for the previous tax period is calculated by formula:

AP of 2009 = (1/4*AP 2008 g) * (20/30)

AP of 2009 - the amount of advance payments for 1 quarter 2009;

AP of 2008 - the total amount of advance payments estimated in calculations of the amounts of advance payments for 2008;

20% - the rate of the corporate income tax established for 2009;

30% - the rate of the corporate income tax established for 2008.

2. The amount of advance payments on the corporate income tax which is subject to payment after delivery of the declaration for the previous tax period is calculated by formula:

AP of 2009 = (3/4*KPN according to the declaration for 2008) * (20/30)

AP of 2009 - the amount of advance payments for 2, 3, 4 quarters 2009;

KPN according to the declaration for 2008 - the amount of the corporate income tax estimated for 2008 according to the declaration on the corporate income tax;

20% - the rate of the corporate income tax established for 2009;

30% - the rate of the corporate income tax established for 2008.

The amount of advance payments estimated according to Item 3 of article 141 of the Tax Code which is subject to payment after delivery of the declaration for the previous tax period is subject to payment by equal shares no later than the 25th day of every month 2, of 3, of 4 quarters 2009.

At the same time according to Item 8 of article 141 of the Tax Code taxpayers have the right to provide during accounting tax period additional calculation of the amount of advance payments for the corporate income tax which is subject to payment for the period after delivery of the declaration on the corporate income tax for the previous tax period, for the forthcoming months of accounting tax period proceeding from the expected amount of the corporate income tax for the current tax period.

Tax Committee of MF RK

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