Get ready for the tax "X-ray"
Mazhilis said "Yes!" to phased income declaration
Members of the lower house of the Parliament took the first step in the gradual transition to the declaration of income and property of the people of Kazakhstan. The relevant draft law was approved at the plenary session of the Mazhilis.
Presenting the bill, Finance Minister Bakhyt Sultanov said that the first financial "x-ray" will pass the most prepared part of the population. From 2017 deputies, judges, civil servants, as well as their spouses will have to fill in the declarations. The draft law also proposes to include in this list the administrative staff of the national companies, and employees of state enterprises.
The universal declaration will begin in 2020, when all adult taxpayers will also be showing their income.
The minister explained that the three-year lag between the steps needed to configure the control systems, as well as for a large-scale campaign through the mass media.
As it was previously reported on palata.kz, Kazakhstani residents are obliged to submit two declarations. The first is the declaration of assets and liabilities, so-called "input" declaration, which will be presented once. In this declaration physical persons will show information at the beginning of the year on the occurrence of accumulated funds and assets, including overseas, as well as reflect its debts to third parties (other than banks) and, conversely, of debts of other people to them, if any. The second declaration is called the declaration of income and property of an individual, and will be presented annually. Kazakhstanis will have to indicate the amount of income received for a year, information on the acquisition and sale of the property subject to state registration (we are talking about real estate, transport, securities, ownership interests, etc.).
In addition, government officials, MPs, judges and other entities of anti-corruption legislation, will also be asked to specify the sources of acquisition costs of the property in the declaration.
For those, who receive income in the form of wages and pensions, will be introduced another short form declaration, which will have an application form, without giving any details of sum. "It is assumed that this form will be on 1 sheet, and, according to our calculations, it will be submitted by over more than 2/3 of all the declarants", - said the Minister of Finance.
The draft law also expands the grounds for tax deductions applied on social spending of individual. So, along with the applicable tax deductions draft law stipulated additional tax deductions for contributions for compulsory health insurance, voluntary medical insurance payment in case of illness, education of a declarant or his/her child.
Bakhyt Sultanov added that the completed declaration will be checked by employees of the State Revenue Committee of the Ministry of Finance. But it will be based on the risk management system. It is expected that honest taxpayers without good reason, will not be disturbed.
Zhanar Serdalina
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