Procedure for monitoring of transactions

The State Revenue Department  of East Kazakhstan region (hereinafter – the Department) informs that amendments and additions have been made to the Order of the Minister of Finance of the Republic of Kazakhstan dated March 16, 2015 No. 176 "On Approval of the rules for conducting monitoring of transactions" (hereinafter - the Order) in order to expand the list of taxpayers.

In accordance with paragraph 2 of the Order, transactions are monitored by the state revenue authorities of the Republic of Kazakhstan for prices used by participants in transactions in international business transactions.

Monitoring is conducted in accordance with the Order of the Minister of Finance of the Republic of Kazakhstan dated March 19, 2015 No. 194 "On approval of the List of goods (works, services) international business transactions for which are subject to monitoring" where the total amount of income (expenses) and (or) liabilities in the reporting financial year is not less than 250,000 monthly calculation index established by the law on the republican budget and effective on the first of January of the reporting financial year.

For reference: previously, the reporting forms 000.10 and 000.20 were submitted only by large taxpayers subject to monitoring.

In this regard, we recommend taxpayers especially those who previously wasn't supposed to submit these reports, to check applicability of the new monitoring requirements to their activities for 2023

The reporting forms for monitoring transactions 000.10 and 000.20 are submitted electronically no later than May 15 of the year following the reporting year.

We note that according to Article 273 of the Code of Administrative Offences of the Republic of Kazakhstan, penalties are provided for non-submission or violation of the deadline for submission of reporting for monitoring transactions to small, medium and large businesses.

In addition, we inform you that the order of the Chairman of the Committee No. 489-DSP dated July 7, 2022 has been amended, where the detected violations will be recorded by notifications and notices in accordance with tax legislation.