Mr. Koreiko, submit the declaration!
As of 2017 adult taxpayers will be obliged to declare their assets, income, and some even expenses
In the Mazhilis was held the presentation of one of the biggest draft laws on phased transition to the universal declaration of income, land, capital, deposits and even debts of citizens of Kazakhstan. The official name of the draft law is "On amendments and additions to some legislative acts of Kazakhstan on the declaration of income and property of individuals".
Finance Minister Bakhyt Sultanov briefed the deputies on the basic outline of the future declaration.
Thus, the main question: when in Kazakhstan will be introduced universal declaration? The first stage will be in 2017. This year, civil servants, employees of national companies, budgetary employees will declare their assets and liabilities.
From 2020 onwards, the declaration will be introduced for all individuals. According to Finance Minister Bakhyt Sultanov, it is expected that in 2020 a minimum of 12.9 million of taxpayers will submit their declarations.
For what purpose is introduced universal declaration? The report is extremely simple - "in order to detect tax evasion and to reduce the size of the shadow economy".
"Unfortunately, the existing system of administration in the country cannot provide effective control over the sources of origin of income and property of all individuals, since a restricted circle of persons (civil servants, MPs, judges) submits declarations of income and property. Therefore, the decision was adopted to move towards universal declaration of income and assets of natural persons ", - said the Minister of Finance.
There will be of two kinds of declarations. The first - the Declaration of assets and liabilities (input). The second is the declaration of income and assets (annual declaration). The latter document is available in two versions - with and without annexes in a simplified form on a single sheet (brief declaration of income and assets). The list of basic data in the declaration is stipulated in the draft law, but the declaration forms will be approved after the adoption of the Law.
Adult citizens of Kazakhstan must declare their income; repatriates and persons with residence permits; minors in the presence of registered property on their name (the obligation to provide a declaration will be assigned to the legal representatives of minor children); foreigners - if they have a property on the territory of Kazakhstan or non-taxed revenues in the Republic of Kazakhstan.
What kind of information the State Revenue authorities want to get from taxpayers? They are primarily interested in the information about the assets (money, securities, real estate, land, vehicles and others.). In addition, the State Revenue authorities will find out whether the taxpayer at the time of declaration has cash in the amount, exceeding 160 minimum wages (currently 3.4 million tenge), with the exception of legalized money.
Tax authorities expect from us information on deposits and loans. It is proposed that the individuals shall declare the data only of they have funds in foreign banks. There is no need to submit data on deposits and loans in local banks (the State Revenue Committee is informed about it). Information about the amount of debt to other individuals or debt of physical persons to other persons in case the amount, exceeds the amount of 160 minimum wages (3.4 mln. tenge), if there is a contract or other document, is in the sphere of interests of the tax authorities.
If desired, the individual may also indicate other property in the form of cultural values or jewelry.
Tax officials pointed to the importance of the annual declaration of income received on the territory of Kazakhstan and beyond. Developers also suggest that the individuals should reflect in the declaration information about tax deductions, information on the acquisition or sale of the property subject to state registration, and the demand for offset and refund of the excess of individual income tax. It was also suggested for Kazakhstani residents to show the expenditures, this will involve big expenses - buying real estate, transport, securities and other interests.
Civil servants and their spouses will be further required to declare the sources of such costs (own funds, borrowed funds, donated funds).
Rhetorical question: whether, this approach will decrease the number of shadow millionaires among our officials?
Zhanar Serdalina
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