of August 6, 2010 No. HK-21-28/9326
The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan, having considered your letter of July 28, 2010 within competence, reports the following.
This subitem is applied if 50 and more percent of cost of the authorized capital or shares (shares) of the specified legal entity or consortium on the date of such realization are constituted by property of persons (person) which are (not being) subsoil users (subsoil user).
Based on stated, taking into account subitem part two 6) of Item 2 of article 133 of the Tax Code the taxpayer has the right to reduction of the taxable income to the income from increase in value in case of implementation of shares and shares in the legal entity or consortium created according to the legislation of the Republic of Kazakhstan irrespective of the non receipt fact in accounting tax period of loss from implementation of shares and shares in the legal entity or consortium created according to the legislation of the Republic of Kazakhstan.
At the same time if in accounting tax period according to shares and shares in the legal entity or consortium created according to the legislation of the Republic of Kazakhstan also income from increase in value in case of realization is gained, and losses from realization, the taxpayer has the right to reduce the taxable income by the amount of such income minus such losses.
Such explanations and comments do not belong to regulatory legal acts, are not obligatory for execution.
Acting Chairman of the Tax Committee
Ministries of Finance of the Republic of Kazakhstan A. Kipshakov
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