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

of December 14, 2012 No. NK-11/11288-I

Now in Parliament of the Republic of Kazakhstan the bill of modification and amendments in some legal acts on the tax matters according to which number of changes and amendments becomes effective since January 1, 2013 in this connection, we direct information on expected changes in part of special tax regimes for the organization of the corresponding work on explanation is under consideration.

1. According to changes and amendments in article 2 of the Law of the Republic of Kazakhstan "About financial accounting and the financial reporting" since January 1, 2013 individual entrepreneurs have the right not to perform financial accounting (except creation and storage of source documents) and financial reporting preparation in case of compliance to at the same time following conditions:

1) is applied according to the tax legislation of the Republic of Kazakhstan by special tax regimes on the basis of the patent, the simplified declaration;

2) do not stay on the registration registry on the value added tax;

3) are not subjects of natural monopolies and the controlled markets.

In case of discrepancy to one of the above-stated conditions, the individual entrepreneur shall perform financial accounting and financial reporting preparation since the month following after month in which there was such discrepancy.

The individual entrepreneur who is corresponding to the above-stated conditions and independently made the decision on financial accounting, having the right to perform conducting such accounting since the month following after month in which such decision is made.

For the specified taxpayers the bill makes changes to the Tax code, namely to Article 56 - on conducting tax accounting policy, to Article 77 - regarding maintaining tax registers, and is entered new Chapter 7-1, of which features of conducting tax accounting by them i.t.d are provided.

2. Since January 1, 2013 allowing nature of application of SNR is cancelled and the notifying procedure for the choice of SNR is entered. At the same time the taxpayer independently determines compliance to criteria of application of SNR and sends to tax authority the notification on application of the mode chosen by it on paper or in electronic form.

This notification is not submitted only again formed individual entrepreneurs as they will perform the choice of SNR in the tax statement for registration accounting as the individual entrepreneur, and also individual entrepreneurs upon transition to SNR on the basis of the patent (representation of Calculation of cost of the patent is the basis for application of this mode).

3. We pay attention to terms of submission of notifications for application of special tax regimes and change of start dates of their application.

On SNR on the basis of the patent.

For application of SNR on the basis of the patent again formed individual entrepreneurs perform the choice of this SNR in the tax statement for registration accounting as the individual entrepreneur along with which shall provide Calculation of cost of the patent. Start date of application of this SNR for such individual entrepreneurs will be date of state registration as the individual entrepreneur.

The individual entrepreneurs performing transition from other tax regimes for application of SNR on the basis of the patent shall provide the notification to 1 date of application of this SNR. At the same time start date of application of SNR on the basis of the patent and start date of effective period of the patent is the first, following after month in which Calculation is provided.

For receipt of the next patent the individual entrepreneurs applying SNR on the basis of the patent shall provide calculation of cost of the patent before expiration of the patent or term of suspension of submission of tax statements.

At the same time we note that since January 1, 2013 issue of the valid patent on the form of the strict accounting will not be made. The patent will be created in electronic form within one working day, and individual entrepreneurs if necessary have the right to take out the electronic patent on paper in tax authority to which calculation is provided, or to unpack it independently in case of representation of calculation in electronic form.

On SNR on the basis of the simplified declaration (further - SNR on the basis of UD).

Again formed individual entrepreneurs apply this mode from registration date as the individual entrepreneur. Newly created legal entities the notification is submitted no later than 5 working days after state registration in judicial authorities. Start date of application of SNR on the basis of UD for such legal entities will be date of state registration in judicial authorities.

The individual entrepreneurs who passed with SNR on the basis of the patent, the notification for application of SNR on the basis of UD is submitted:

- within five working days from the date of emergence of discrepancy to conditions of application of special tax regime on the basis of the patent. At the same time, start date of application of SNR on the basis of UD will be the first in which discrepancy to conditions of application of special tax regime evolved from the patent;

- in other cases - before the termination of effective period of the patent or temporary suspension of submission of tax statements. At the same time, start date of application of SNR on the basis of UD will be the date following expiry date of the patent or temporary suspension of submission of tax statements.

Other individual entrepreneurs and legal entities for application of SNR on the basis of UD the notification is submitted to the first of application of SNR on the basis of UD. Start date of application of SNR on the basis of UD will be the first, following after month in which the notification on the applied tax regime is provided.

On SNR for country or farms (further - SNR for peasant farm) and SNR for legal entities - producers of agricultural products, products of aquaculture (fish breeding) and rural consumer cooperatives (further - SNR for SHTP)).

Since January 1, 2013 country or farms and legal litsaproizvoditel of agricultural products have the right to choose one of the following modes: SNR for peasant farm, SNR for SHTP, SNR for SMB in case of compliance to application conditions, or generally established procedure.

At the same time, the taxpayers who chose SNR for peasant farm or SNR for SHTP when implementing types of activity to which SNR for peasant farm or SNR for SHTP does not extend shall keep separate account of the income and expenses, property and to make calculation and payment of the tax liabilities on such types of activity only in generally established procedure.

Since January 1, 2013 for application of SNR for peasant farm by individual entrepreneurs, except for again formed, in tax authority in the location of the parcel of land the notification on the applied tax regime is submitted. Start date of application of the specified special tax regime is the first, following after month in which the notification on the applied tax regime is provided.

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