The procedure for calculating advance payments after the submission of the declaration.

The State Revenue Department for East Kazakhstan region informs that payers of advance payments according to CIT in accordance with Article 305 of the Code of the Republic of Kazakhstan No. 120-VI dated December 25, 2017 «On taxes and other mandatory payments to the budget » (hereinafter – the Tax code), are taxpayers whose aggregate annual income, subject to adjustment for the tax period preceding the previous reporting period and exceeds 325,000 times the MCI (as of January 1 of the financial year).

The following categories do not calculate and pay advance payments on corporate income tax:

- taxpayers whose AAI, taking into account adjustments for the tax period preceding the previous tax period, is less than or equal to 325,000 the MCI;

- newly created taxpayers - during the period when the legal entity was registered, and in the subsequent reporting period;

- newly registered non-resident legal

entities operating through a permanent establishment without opening a structural subdivision of a legal entity - during the tax period during which registration was carried out and during the subsequent tax period;

- non-profit organizations specified in paragraph 1 of Article 289 of the Tax Code;

- autonomous organizations specified in paragraph 1 of Article 291 of the Tax Code;

- organizations carrying out activities in the social sphere specified in paragraphs 2 and 3 of Article 290 of the Tax Code.

In accordance with subparagraph 3 of paragraph 5 of Article 305 of the Tax Code, the amount of advance payments after the declaration is calculated equivalent to three-quarters of the amount of corporate income tax calculated for the previous tax period in accordance with paragraph 1 of Article 302 and Article 652 of the Tax Code, except in the cases provided for in subparagraph 4 of this paragraph.

The taxpayer who has submitted advance payments calculation after the CIT Declaration submission for the previous tax period has the right to submit an additional calculation of advance payments for the months of the reporting period for which the payment deadlines are not yet due. In this case, the calculation is performed based on the estimated amount of corporate income tax for the reporting tax period.

The final date for submitting additional calculations is till December 31 of the tax period.

The amount of advance payments, taking into account the adjustments specified in the additional calculation, cannot be negative.

The amount of advance payments paid to the budget during the tax period is credited to the CIT payment calculated according to the CIT Declaration for the reporting tax period.

When calculating advance payments after the submission of the CIT Declaration, it is necessary to take into account an important circumstance that is regulated by the Code of Administrative Offences.

Thus, in accordance with paragraph 3 of Article 278 of the Code of the Republic of Kazakhstan «On Administrative Offenses», administrative liability is provided in the form of a fine in the amount of 20% of the amount of excess of the actually calculated corporate income tax for the tax period over the amount of calculated advance payments during the tax period in the amount of more than twenty percent, if this action does not contain evidence of criminal deeds.