World Monitor Magazine, Business and Investments WM_march 2019_web | Page 16

DESTINATION KAZAKHSTAN
Amendments to the Tax Code
The EUROBAK annual meeting with Gulzhana Karagussova,
Chairperson of the Finance and Budget Committee of Majilis of RK,
took place on 30 November 2018 in Almaty. Ms Karagussova has
highlighted the new Tax Code of the RK, active as of 1 January 2019,
and the up-to-date issues of business with EUROBAK community.
For example, the administration of taxes
will affect a variety of tax payers differ-
ently.
Gulzhana Karagussova,
Chairperson of the
Finance and Budget
Committee of Majilis
of RK
A differentiated approach to tax admin-
istration is introduced by applying a risk
management system (RMS) for different
categories of taxpayers.
The first category, the so-called
‘green group’ , will include low-risk tax
payers. They will not be checked and allow-
ances will be provided in the deadlines for
their reporting, debt payment, the possibil-
ity of participation in horizontal monitor-
ing, etc.
Standard administrative mech-
anisms will be applied to the
medium-risk group, who will also
receive notifications, and in the case of
non-performance, tax control measures.
world monitor
In addition, the debt collection procedure
was changed, providing notification to
the above-mentioned payers of the debt
amount and the subsequent suspension of
expenditure transactions on their bank ac-
counts, and in the case that debt is not re-
paid, while issuing collection orders with-
out attaching lists of employees.
Tax monitoring
The new code provides for a new type of
interaction with large taxpayers based on
the principles of trust and openness – ‘Hor-
izontal Monitoring’.
degree of risk. They will be given height-
ened attention and immediate response
in cases of improperly fulfilling tax obliga-
tions. Opening access to information, a busi-
ness in return receives a number of ad-
vantages, such as:
• fewer tax audits.
• recommendations on how to correctly ful-
fill tax obligations.
• exemption from liability in the case of vol-
untarily implementing recommendations.
Also from January 1, 2019, measures of
forced collection of tax debts will be carried
out using the risk management system. The procedure for horizontal monitoring
will be established by the authorized body,
i.e. Ministry of Finance.
Along with this, from January 1, 2019, the
procedure for collecting social tax arrears
is changing. Taxpayers who are under horizontal moni-
toring, as well as organizations imple-
menting an investment priority project, are
The third group, or the so-called
‘red zone,’ will be taxpayers with a high
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Thus, in regards to this, the state revenue
agencies will require collection measures,
implementing the RMS for payers classi-
fied as high and medium risk.