Changes in accounting field in Kazakhstan: little use, much confusion, more questions than answers

A new level of MCI (minimal calculated index) has been established – 3,180 tenge, for the calculation of benefits and other social payments, from April 1, 2022. New MCI was approved only in the second decade of May, but it has to be applied from 1^st of April 2022.

But MCI approved on 1^st of January 2022 was not cancelled. Accordingly, for the rest of the calculations there are no edits and the MCI is applied – 3063 tenge

It turns out that in 2022 there will be two MCI rates, what is confusing in application

For social benefits and social payments applied MCI is 3,180 tenge, and in other cases – fines, taxes and fees, including fees for notarial acts – 3,063 tenge.

Difference between rates is miserable and the benefit of such a small increase in the indicator for social benefits and payments is very doubtful, but confusion in application of rates can be serious. In Kazakhstan, we are used to see updates which normally bring benefits to society and business, this time obviously something went wrong.

Stay tuned with FChain team.