ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of June 2, 2011 No. 618

About approval of Rules of realization of the property pledged by the taxpayer and (or) the third party, and also limited at the disposal of property of the taxpayer (tax agent) on account of tax debt, the payer - on account of debt on customs payments and taxes, penalty fee

According to the Code of the Republic of Kazakhstan of December 10, 2008 "About taxes and other obligatory payments in the budget" and the Code of the Republic of Kazakhstan of June 30, 2010 "About customs affairs in the Republic of Kazakhstan" the Government of the Republic of Kazakhstan DECIDES: (Tax code)

1. Approve the enclosed Rules of realization of the property pledged by the taxpayer and (or) the third party and also limited at the disposal of property of the taxpayer (tax agent) on account of tax debt, the payer - on account of debt on customs payments and taxes, penalty fee.

2. This resolution becomes effective after ten calendar days from the date of the first official publication.

Approved by the Order of the Government of the Republic of Kazakhstan of June 2, 2011 No. 618

The rule of realization of the property pledged by the taxpayer and (or) the third party, and also limited at the disposal of property of the taxpayer (tax agent) on account of tax debt, the payer - on account of debt on customs payments and taxes, penalty fee

1. General provisions

1. These rules of realization of the property pledged by the taxpayer and (or) the third party, and also limited at the disposal of property of the taxpayer (tax agent) on account of tax debt, the payer - on account of debt on customs payments and taxes, are developed by penalty fee (further - Rules) according to the Code of the Republic of Kazakhstan of December 10, 2008 "About taxes and other obligatory payments in the budget" (Tax code), the Code of the Republic of Kazakhstan of June 30, 2010 "About customs affairs in the Republic of Kazakhstan" and determine procedure for realization of the property pledged by the taxpayer and (or) the third party, and also limited at the disposal of property of the taxpayer (tax agent) on account of tax debt, the payer – on account of debt on customs payments and taxes, penalty fee.

2. In these rules the following concepts are used:

1) current price – the price for lot developing during the electronic auction;

2) the appraiser – the physical person or legal entity having the license for implementation of estimative activities and surely being the member of one of chambers of appraisers;

3) the debtor – the physical person or legal entity which property and (or) the third party is pledged according to the Tax code or is limited on hand according to the decision of body of state revenue (further – OGD) on account of repayment of tax debt, debt on customs payments and taxes, penalty fee;

4) the guarantee fee – the sum of money granted by the physical person or legal entity wishing to participate in electronic auction selling property of the debtor;

5) the company – the authorized legal entity determined by authorized body in the sphere of realization of the property pledged by the taxpayer and (or) the third party, and also limited at the disposal of property of the taxpayer (tax agent), the payer;

6) lot – the property of the debtor consisting of one or several identical and (or) uniform objects or complex of objects which separation will entail change of its economic appointment (functions);

7) the starting price – the price with which the biddings on each lot begin;

8) selling price – the final price of lot established as a result of electronic auction which cannot be less than 65 percent from estimated value of property;

9) property – the mortgage and (or) limited on hand property on which according to the agreement and (or) the resolution OGD collection on account of tax debt, debt on customs payments and taxes, penalty fee addresses;

10) property selling expenses – the cost amount according to lot and other expenses connected with its realization established by the order of the company for January 1 of calendar year and operating within the corresponding calendar year;

11) the buyer – the winning bidder who signed the purchase and sale agreement;

12) the winner – the participant of electronic auction who offered top price for lot of auction and the signatory protocol on results of the biddings;

13) authorized bodies – the state and other bodies, the organizations performing accounting, state registration of real and (or) personal estate, according to the procedure, stipulated by the legislation the Republic of Kazakhstan;

14) electronic auction – form of the biddings on the web portal of the register when which carrying out participants declare the offers publicly;

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