How to avoid income tax filing mistakes
Accountants Club of the Chamber of Entrepreneurs of Almaty discussed the main issues and mistakes that occur when filing income tax.
What does an accountant need to know when he calculates the individual income tax (IIT) of the source of payment? A professional accountant, DIPIFR member and auditor of Kazakhstan Yelena Rozinkina, answered this question to colleagues.
Income tax is imposed on residents and non-residents. An alien is considered to be a resident of the Republic of Kazakhstan if he is in Kazakhstan for more than 183 calendar days (including days of arrival and departure) in any successive 12-month period (no calendar year is calculated). The following residents are considered as citizens of the Republic of Kazakhstan: diplomats who are seconded abroad by government bodies, members of their families; crew members engaged in international traffic; military personnel and civilian personnel who are stationed outside the Republic of Kazakhstan; citizens who are outside the Republic of Kazakhstan for the purpose of treatment, training; teachers and researchers outside the Republic of Kazakhstan for the purpose of teaching, consulting, conducting scientific activities.
“Many people mistakenly consider foreigners to be non-residents and incorrectly calculate the PIT. A foreigner will be considered a resident of the Republic of Kazakhstan if his center of vital interests (family, real estate, source of income) is located in Kazakhstan. Let me remind you that residents pay taxes on income from sources of payment in the Republic of Kazakhstan and outside, non-residents - only taxes on income from a source in the Republic of Kazakhstan. There are only 12 types of income taxed at the source of payment. Therefore, they are easy to remember,” Yelena Rozinkina said.
Tax deducted at source:
Employee income, including income of domestic worker and a resident immigrant;
Revenues from the sale of goods, performance of works, provision of services;
Revenue from the cost of goods, works, and services received by a person but paid by a third party;
Income from debt repayment to an individual for works and services provided;
Income in the form property, received free of charge, including works, services;
Income in the form of debt forgiveness;
Income in the form of reducing the amount of the claim against the debtor;
Income in the form of interest payments on repo operations;
Income in the form of pension payments;
Income in the form of dividends, fees, winnings;
Income in the form of scholarships;
Income from savings insurance agreements.
“IIT rates make 5% for dividends and 10% for other types of income. Travel expenses, daily allowance, the cost of protective clothing, special footwear, carpool of the employee; cost of goods for promotional purposes are not considered as income,” Elena Rozinkina said.
IIT checklist at source of payment:
1) Find out whether a person is a resident of the Republic of Kazakhstan or not.
2) Determine taxable income.
3) View corrections (Art.341, Art.319, Art.654 Tax Code of Kazakhstan).
4) Get a statement on tax deductions.
5) Check the supporting documents for deduction.
6) Calculate the amount of taxable income.
7) Set the interest rate.
8) Calculate the amount of IIT.
9) Transfer the IIT to the budget before the 25th day of each month.
10) Provide type of tax reporting (ФНО 200.00) by 15 of May, August, November, February.
Head of the department for respondents coordination of the Almaty Statistics Department Davir Belalov spoke on the topic “Reliable statistics and online mode” at the Accountants Club. The chief specialist of the legal department of the Almaty Statistics Department Aliya Samaldykova spoke about the procedure for conducting state control in the field of state statistics regarding respondents.
“We invite managers, accountants of companies and individual entrepreneurs to take an active part in our Club,” Yuriy Tleumuratov, moderator of the Accountants Club, said. - For example, today each participant will receive a certificate on behalf of the Account.kz portal, which is a document for crediting hours for the Professional Accountant certification.
Participation in the Accountants Club of the Chamber of Entrepreneurs of Almaty is free. The meetings are held at the address: Almaty, 14 Abay Ave., National Library of the Republic of Kazakhstan, 1st floor, exhibition hall. If you wish to participate you can register by calling: 8701-943-20-21 Raushan Begaliyeva.
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