The tax regime of IFCA
The Rules for the maintenance of separate accounting of income subject to exemption from corporate income tax and subject to taxation, as well as the costs to be deducted, all these issues were discussed at “Atameken”
On 12th of October at Atameken's site, the International Financial Center Astana presented the Taxation Rules of IFCA " Within the framework of the signed Cooperation Agreement between the National Chamber of Entrepreneurs of the Republic of Kazakhstan "Atameken" and the International Financial Center "Astana".
“We are discussing regulations of IFCA on the site of "Atameken". The tax regime of IFCA is an important topic for discussion with the business community - potential participants of IFCA", - stated during the opening of the meeting Deputy Chairman of the Board of NCE RK "Atameken" Yuliya Yakupbaeva. A member of the Finance and Budget Committee of the Mazhilis of the Parliament of the Republic of Kazakhstan, Deputy Ekaterina Nikitinskaya, Deputy Chairman of the Administration of IFCA Kairat Aitekenov, as well as representatives of the Association of Financiers of Kazakhstan, the financial sector and other interested parties participated in the discussion. "The document was developed by the administration of IFCA with the assistance of independent experts. At the moment, IFCA is at the stage of discussing the Rules for further consolidation with a joint order with the Ministry of National Economy and the Ministry of Finance", - Kairat Aitekenov began the presentation. The presentation of the Rules was conducted by an independent expert on taxes Dastan Kaziev, who spoke about the procedure for separate accounting of incomes. The presentation highlights topics of preferential tax treatment, the order of separate accounting of income by direct and combined methods, the attribution of costs to direct, third-party and non-readable, and also to general expenses. Separate features of separate accounting of income for non-residents are separately considered. The issues on registration and receipt of BIN by the participants of the IFCA and further work were discussed during the meeting, as well as issues of obtaining accreditation. The parties came to the conclusion that there is a need for a separate document on financial monitoring. "It will be very much hanging from the rules of registration, the entrance requirements for capital, the procedure for obtaining licenses on the territory of IFCA", - noted Yuliya Yakupbaeva. The deputy of Mazhilis of the Parliament of the Republic of Kazakhstan Ekaterina Nikitinskaya paid special attention to the specification of tax accounting. "The rules should specify how to keep records for newly created legal entities, and for branches of existing legal entities to understand the definition of tax reporting", - said Ekaterina Nikitinskaya. Representatives of the IFCA summarized that the Rules are a project and will be finalized taking into account proposals of the business community and professional participants. By the end of October, the rules on registration will be submitted for discussion, and in December - on administration. Presentation "Draft Rules for Separate Accounting of Income and Expenses for Participants of IFCCA" attached Proposals for the project should be sent to the expert of the Department of Economics of NCE RK "Atameken" (Bekzhan Otarbayev, phone 919342, b.otarbaev@atameken.kz)
Draft Rules for Separate Accounting of Income and Expenses for participants of IFCA
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