90 THOUSAND OF SMEs TO FALL UNDER THE TAX AMNESTY
According to the official website of the Ministry of Finance of the Republic of Kazakhstan, the total amount of tax debts as of October 1 was 340.6 billion tenge.
The total amount of fines to be written off is 122.9 billion tenge. Among them 7.3 billion tenge – fines, that will be written off if the debtors cover their principal debt in the amount of 210.4 billion tenge. According to preliminary data, 90,077 subjects of medium and small business fall under the amnesty (31,210 legal entities and 58,867 individual entrepreneurs).
According to preliminary calculations carried out by the Ministry of Finance, 90,077 subjects of medium and small business fall under the amnesty, and as of Oct. 1, 2018, they have tax debts of 340.6 billion tenge. At the same time, the total amount of penalties to be written off is 122.9 billion tenge, fines — 7.3 billion tenge, which will be cancelled provided that the principal debt is paid for 210.4 billion tenge.
Large taxpayers, subsoil users, except for users of groundwater and curative mud, as well as manufacturers of excisable goods do not fall under the tax amnesty. Currently, amendments to the legislation of the Republic of Kazakhstan are under consideration in the Senate.
It should be mentioned that President of Kazakhstan ordered to launch tax amnesty for SMEs starting from January 1, 2019 by writing off penalties and fines, subject to the payment of the principal debt. The debtors should repay the principal debt, which has not been repaid as of October 1, 2018, before December 31, 2019.