According to the results of tax control measures within the framework of countering capital outflow from the country, the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan additionally accrued taxes in the amount of 17.7 billion tenge, DKNews.kz reports.
Thus, according to the analysis of received data from the National Bank of the Republic of Kazakhstan on international Taxation, additional taxes for 14.7 billion KZT have been accrued on int
Within the framework of the Multilateral Competent Authority Agreement on the automatic exchange of information on financial accounts (Common Reporting Standard), 3 billion KZT was collected from 578 individuals to the budget.
At the same time, in order to strengthen measures to counter capital outflow from the country, the State Revenue Committee is carrying out relevant work within the framework of international cooperation.
Kazakhstan is a member of Base erosion and profit shifting (BEPS) - a joint project of the Organization for Economic Cooperation and Development (OECD) and the G20 – Action plan for the implementation of global tax rules to counteract base erosion and the withdrawal of profits from taxation.
In 2020, Kazakhstan ratified a Multilateral Convention, whose main purpose is to ensure the taxation of profits in the state where business activities are carried out and to prevent the artificial transfer of profits to low-tax jurisdictions for the purpose of tax evasion.
Moreover, in addition to the provisions on the exchange of information in the existing 55 tax agreements, Kazakhstan has ratified the Convention on Mutual Administrative Assistance in Tax Matters (Strasbourg Convention).
Among other things, it is aimed to improve the effectiveness of tax information exchange practices. In addition to written requests, the Strasbourg Convention provides for the possibility of automatic exchange of tax information.
As of today, 147 countries have joined the international agreement, including 43 offshore jurisdictions.
In 2023, an Agreement was signed with the US Government on the improvement of International Tax Discipline (FATCA) on the exchange of data on financial accounts of Kazakhstani residents concerning account balances, interest amounts, and dividends paid starting from 2014.
At the same time, as part of the work to counter capital withdrawal, amendments were made to the Tax Code regarding the abolition of dividend benefits, restrictions on deductions for intangible services provided by interconnected non-residents (no more than 3%), recognition of individuals as tax agents paying income to non-residents, as well as other changes.
Amendments to the transfer legislation have also been adopted, such as the improved methods for determining market prices, implemented mechanisms for determining the market range, expansion of the definition of the interconnectedness of the parties, and the return of the control over transactions issued on Kazakhstani commodity exchanges;
Moreover, since January 1, 2024, the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan has been one of the currency control bodies.
Additionally, by the Decree of the President of the Republic of Kazakhstan dated March 14, 2022 №830 "On measures to ensure the financial stability of the Republic of Kazakhstan", work is being carried out on an ongoing basis to prevent the illegal export of cash and gold bars.
