Kazakhstan tax return deadlines appoach

Posted on: 28/11/2013 in: Recent Developments

For those companies that are already trading and tax registered in Kazakhstan, please note that the tax year end is now approaching  and for those that have traded better than expected it may be necessary to make an additional advanced Corporate Income Tax (“CIT”) declaration for the tax year ended 31 December 2013.

If your final CIT declaration for 2013 is 20% more than your advanced CIT declaration for the year than in accordance with the Code of Administrative Violation you are liability to a 40% penalty on the full under declared advanced CIT amount.   Any additional advanced CIT declaration needs to be filed by the 20th December.

Good tax planning is essential to avoid the risk of penalties when operating in this jurisdiction.

Please note that this post is provided for general information only, and we cannot be held responsible for the consequences of any action you do or do not take as a result of the information provided.  Please contact us if you need advice.