KAZAKHSTAN: NEWS AND ACCOUNTING ACTIVITIES, OCTOBER 2022

• A bill has been submitted for discussion and adoption regarding change of the transfer pricing The purpose of the development and adoption of the bill is to improve the legislation in the field of transfer pricing and strengthen control measures over transfer pricing and the withdrawal of capital from the country
• The Accounting Rules and standard accounts for individual financial market entities of the Republic of Kazakhstan are changing from January 1^st, 2023
• The luxury tax is planned to be introduced in Kazakhstan. The tax will apply to real estate, vehicles and other luxury items that have a certain high value or high investment value. Conditional examples are yachts, sports cars, foreign villas, private jets
• Full list of accounting activities in October you may see below:

1. Calculation and payment of wages for September: 1 – 10 of October, 2022
2. Submission of tax reporting –

before October, 17

• submission an excise duty tax return in the form 400.00 and calculation for subdivisions in the form of 421.00

before October, 20

• EEU for received imports – submission of an import application in the form 328.00 and payment of VAT

3. Payment of taxes:

Before 3^rd of October

• individuals engaged in private practice pay PIT (personal income tax)

Before 20^th of October

• excise duty
• amounts of indirect taxes on imported goods to the customs union

Before 26^th of October

• salary taxes and contributions and other taxes
• Withholding tax and advance payments for CIT
• other taxes

4. Submission of statistical reporting according to schedule for your business activities
5. Other activities in area of primary documentation checkup/collection, reconciliation acts and matching of electronic invoices on state portal with 1C or other software; daily bookkeeping activities.

Article is prepared by Yekaterina Kassumova

3^rd of October 2022