Criteria for mobile transfers of individuals have been developed and posted on the E-Government portal for public discussion. The State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan told what indicators are supposed to be taken into account when transferring information by banks.
The Ministry of Finance of the Republic of Kazakhstan has developed a draft order of the Minister of Finance of the Republic of Kazakhstan "On approval of criteria for attributing transactions conducted on bank accounts of individuals to transactions that have signs of income from Entrepreneurial Activity, Rules, form and Deadline for submission by second-tier banks and organizations Engaged in certain types of banking operations, information on transactions conducted by on the bank accounts of individuals classified as transactions, having signs of receiving income from doing business".
The following criteria are attributed to the criteria for attributing transactions that have signs of receiving income from entrepreneurial activity:
receipt by one individual within 3 consecutive calendar months of funds to a bank account from 100 or more different persons, i.e. an individual who has received funds from 100 different persons on a monthly basis for 3 consecutive months falls under the criteria.
Within the framework of the Tax Code, it is envisaged that by 2025, second-tier banks will transfer information to the state revenue authorities in stages for the following categories of individuals, complementing the existing categories.
Stage 1.
From January 1, 2022, information on civil servants and their spouses, as well as persons equated to them and their spouses, will be transmitted.
2nd stage.
From January 1, 2023, information on public sector employees and their spouses, as well as employees of quasi-public sector entities and their spouses will be transmitted.
Stage 3.
From January 1, 2024, information is transmitted on the heads, founders (participants) of legal entities and their spouses, individual entrepreneurs and their spouses.
Stage 4.
From January 1, 2025, information is transmitted for all remaining categories of the population.
In 2023, second-tier banks and organizations engaged in certain types of banking operations are planning to provide information on persons of the 1st stage.
"The draft order does not affect personal transfers of individuals, bona fide taxpayers and is aimed at improving the efficiency of tax monitoring, compliance with the legislation of the Republic of Kazakhstan, and prevention of damage from tax evasion," the SRC noted