Consultation on the order of taxation of income in securities market
Our company offers consulting services for preparation of tax return.
We would like to remind you that you should submit tax return on income received in the previous year to the tax authority at the place of your registration at the latest on the March 31st in accordance with Article 186 of the Tax Code of the Republic of Kazakhstan.
According to Article 185 of Tax Code of the Republic of Kazakhstan all individuals who have received property income must submit tax returns (increase in value at sale of securities, real estate etc.), as well as individuals who have received other income non-taxable at source of payment (dividends, interest on bonds etc.). Income earned on Kazakhstan Stock Exchange is non-taxable; however tax return must be submitted.
We also consider it necessary to note that according to the Article 206 of the Code of Administrative Offences failure to provide reports (late provision of reports) to the tax authority entails administrative liability in the form of a warning or a fine totaling 15 MCI. Moreover, in case taxable income is detected, tax evasion entails fines and penalties, and, in some cases, criminal liability of an individual.
If you have difficulties in understanding the procedure for taxation of transactions performed on the securities market through our Company and the procedure for completion of the tax return and calculation of amounts for the tax return, you can conclude a Consulting agreement with the Company for preparation of tax forms for operations with securities.
These services include:
- Consulting on the order of taxation of security transactions and completion of tax returns on income received in the securities market on the basis of operations registered on client’s personal account nominally held by the Company.
- Provision of a 240.00 preliminary tax return form on operations executed on the Customer’s personal account to the Customer (pdf).
- Provision of explanation report to preliminary tax return form.
- Provision of information on the amount and bank account details for transfer of tax payments (if there is any taxable income).