Procedure for monitoring of transactions.

Monitoring of transactions is carried out on the basis of the Rules for monitoring transactions approved by the Order of the Minister of Finance of the Republic of Kazakhstan dated March 16, 2015 No. 176.

The rules for monitoring of transactions have been developed in accordance with Articles 6 and 7 of the Law of the Republic of Kazakhstan dated July 5, 2008 «On Transfer Pricing» and determine the procedure for filling approved transaction monitoring reporting forms by a transaction participant and submitting them to authorized bodies, the procedure for record-keeping on monitoring of transactions by transaction participants, including those carrying out transactions with goods which are not subject to transaction monitoring.

In turn, transactions the state revenue authorities of the Republic of Kazakhstan monitor the prices applied by the participants of transactions and collection from taxpayers subject to monitoring in accordance with Article 130 of the Code of the Republic of Kazakhstan dated December 25, 2017 «On Taxes and other mandatory payments to the budget».

Participants in transactions for goods (works, services), international business transactions for which transactions are subject to monitoring, submit reports on monitoring transactions «Export of goods (works, services) » and reports on monitoring transactions «Import of goods (works, services) » to the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan no later than 15 May following the reporting year, in accordance with the Rules. Meanwhile, the reporting period is a calendar year.

It should be noted that completed transaction monitoring reporting forms are submitted electronically, permitting computer processing of information, through the system of receiving and processing tax reports of state revenue bodies. Transaction monitoring reporting forms are certified with an electronic digital signature. The date of its to the State Revenue Committee is before 12 PM of the deadline established by the Rules for submitting transaction monitoring reporting forms.

When submitting transaction monitoring reporting forms in electronic form, the State Revenue Committee sends an electronic notification to the transaction participant about acceptance or non-acceptance of transaction monitoring reporting forms by the specified system no later than two working days from the date of acceptance by the system of receiving and processing tax reports of state revenue bodies.

Transaction monitoring reporting forms are not considered to  be submitted to the State Revenue Committee if:

1. Do not comply with the forms established by the Rules;
2. The code of the state revenue authority is not specified or isn’t correct:
3. The identification number is not specified or isn’t correct;
4. The tax period is not specified;
5. The electronic digital signature is missing or unauthentic;
6. The requirements of the part 51 of paragraphs 10 and 11 of the Rules have been violated;
7. The structure of the electronic format of transaction monitoring reporting forms has been violated;

In the absence of international business transactions in the reporting period, such transaction participants are not submitted to the State Revenue Committee.

Amendments and (or) additions to the transaction monitoring reporting forms are made by submitting additional transaction monitoring reporting forms for the tax period to which these amendments and additions relate.