Suspension and resumption of spending operations on bank accounts: what's new?

Banks have the right to independently resume spending operations on bank accounts of sole proprietors and legal entities if tax debts are paid in full. This was reported in the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan.

 

In case of repayment by the taxpayer of the amount of tax arrears specified in the order of the tax authority on the suspension of expenditure operations on bank accounts (RPRO) of the taxpayer, the bank has the right to independently resume expenditure operations on bank accounts until the withdrawal of the order from the state revenue authority.

These changes came into force on January 1, 2022.

 

Earlier, from July 1, 2021, other amendments came into force, according to which the bank accounts of sole proprietors and legal entities will not be closed if the tax debt is less than 18 thousand tenge. The changes are aimed at supporting entrepreneurship.

Then amendments were made to the tax legislation (Article 118 of the Tax Code), according to which expenditure transactions on bank accounts in case of non-payment of tax arrears will be suspended only if the tax debt exceeds the amount of 6 MCI (18.4 thousand tenge in 2022).

 

"Amendments and additions were adopted by the Law of the Republic of Kazakhstan dated June 24, 2021 "On Amendments and Additions to the Code of the Republic of Kazakhstan "On Taxes and Other Mandatory Payments to the Budget" (Tax Code) and the Law of the Republic of Kazakhstan "On the Enactment of the Code of the Republic of Kazakhstan "On Taxes and Other Mandatory Payments to the Budget" (Tax Code)" to the Code of the Republic of Kazakhstan "On Taxes and Other Mandatory Payments to the Budget" (Tax Code)," the SRC added.