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TAX OBLIGATIONS DURING VOLUNTARY LIQUIDATION TAKING INTO ACCOUNT 2018 CHANGES.

14 september 2018

This material is devoted exclusively to the relationship of a legal entity with tax authorities in the process of its voluntary liquidation. General conditions and stages of the voluntary liquidation procedure are described in other material posted on the site. Since 2018, Kazakhstan has adopted a new Tax Code, which introduced changes to the procedure for fulfilling tax obligations by liquidated legal entities. In case of liquidation, each taxpayer has the right to choose one of three options for passing tax control. Let us dwell on each and analyze their features.

 

SECTION 1. Liquidation of a company with a mandatory tax audit

The described mechanism can be applied by all liquidated legal entities of Kazakhstan without exception. If a legal entity does not meet the requirements described in the following sections of this article, then in the event of liquidation, it is obliged to fully pass the algorithm described in this section.

      1) submission of liquidation statements and applications for verification

Within 3 business days from the date of approval by the general meeting of participants (shareholders) of the interim liquidation balance sheet, the liquidation commission must send to the tax authority at the place of registration a tax audit statement and liquidation tax reporting for all types of taxes, the payer of which is a legal entity. All described documents can be sent electronically using the resource “Taxpayer Cabinet”. If the liquidation tax statements have been assessed the amounts payable, they should be paid within 10 business days from the date of delivery of such statements.

      2) tax audit

The tax audit must be started no later than 20 business days from the date of submission of the application. The term of the tax audit is 30 working days, however, in practice, tax specialists suspend and extend the course of this period, due to which the tax audit can last more than a year. The legality of delaying a tax audit is not considered within the framework of this material, but it should be noted that well-structured actions of an experienced tax consultant will help to avoid delays and delays on the part of the tax authority.

      3) completion of tax control

After the tax audit is completed, the legal entity pays the accrued amounts of tax liabilities or appeals the results of the audit. If the personal account of the taxpayer has excessively or erroneously paid amounts, then they should be offset or refunded. If we are talking about small amounts, a legal entity has the right to write a free-form statement about resetting a personal account.

Within 3 business days from the date of completion of the tax audit, payment of tax obligations and offsetting / refunding taxes or resetting the personal account, a liquidation balance sheet should be submitted to the tax authority.

SECTION 2. Simplified procedure through desk control

Such a procedure is entitled to apply only to legal entities who: (1) have not been VAT payers for the past 5 years; (2) did not apply special tax regimes for producers of agricultural products, aquaculture products (fish farming) and agricultural cooperatives for the past 5 years; (3) were not reorganized and did not act as assignees of the reorganized companies for the last 5 years; (4) with respect to such a legal entity, it was not planned to conduct a tax audit of the last 5 years and is not currently planned; (5) a legal entity is not a payer of taxes for certain types of activities: electronic trade in goods, gambling, production and sale of gasoline, alcohol, tobacco, etc. In order to apply the procedure described in this section, a legal entity must meet each of the above conditions.

      1) delivery of documents to begin the cameral control

After the approval of the interim liquidation balance sheet, the following should be sent to the tax authority: (1) a tax application for termination of activity; (2) liquidation tax reporting; (3) interim liquidation balance sheet. If a cash register is registered with a legal entity, then an application must also be sent to remove it from the register. The deadline for sending the listed documents is not limited, but for liquidation purposes, documents should be sent immediately after the approval of the interim liquidation balance sheet. If tax liabilities are assessed for tax liabilities, they should be paid within 10 business days from the date of delivery of such statements.

      2) cameral control

The tax authority sends to the authorities and second-tier banks, after which cameral control is carried out for compliance with tax laws over the past 5 years. Based on the results of cameral control, a conclusion is drawn up on its results. If violations of tax laws are identified. On average, the implementation of the actions described in this paragraph takes from 2 to 4 months.

After receiving a notice on elimination of violations, a legal entity must execute it: amend tax returns, clarify the amount of tax obligations, or give an explanation of the legality of calculating tax amounts. If within 10 working days a notification is received that the tax authority will not agree with the data, the tax authority will initiate the start of a tax audit, after which the general provisions described in the first section of the material will be adopted.

      3) completion of tax control

After receiving notification of elimination of violations, the legal entity pays the amount of tax obligations, receives, after deduction and refund, of the paid or erroneously paid amounts of taxes. Within 3 business days from the date of payment of tax obligations and making tax and tax payments, the tax authority must hand over the liquidation balance sheet.

SECTION 3. Simplified procedure by drawing up an audit report

Such a procedure has the right to be applied only to legal entities that: (1) have a total aggregate annual income for the last 5 years (subject to adjustments of not more than 150,000 MCI); (2) have an audit report on taxes drawn up by an audit organization; (3) they are not payers of tax activity related to the production and sale of gasoline, alcohol, tobacco, etc. To apply the procedure described in this section.

1) delivery of documents to begin the cameral control

(1) tax termination statement; (2) liquidation tax reporting; (3) tax audit report, preparation no more than 20 calendar days prior to submission to the tax authority. This should be sent an application for deregistration. The deadline for the delivery of these documents is not defined. If a tax debt arises as a result of an audit or tax reporting, it must be repaid within 10 business days from the date of accrual.

2) conducting cameral control

Within 10 working days from the date of submission of documents, the tax authority monitors compliance with tax laws. If, according to the results of cameral control, violations of tax legislation have been identified, then the legal entity is given a notice of elimination of the violations.

After receiving a notice on elimination of violations, a legal entity must execute it: amend tax returns, clarify the amount of tax obligations, or give an explanation of the legality of calculating tax amounts. If within 10 working days a notification is received that the tax authority will not agree with the data, the tax authority will initiate the start of a tax audit, after which the general provisions described in the first section of the material will be adopted.

3) completion of tax control

After receiving notification of elimination of violations, the legal entity pays the amount of tax obligations, receives, after deduction and refund, of the paid or erroneously paid amounts of taxes. Within 15 business days from the moment of sending the documents (if no violations were revealed by the results of desk control), this section is available in paragraph 1, or within 3 business days from the date of payment of tax obligations and the offset / refund of a tax or tax account, the tax authority should hand over the liquidation balance sheet.

 

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Materials posted in this section of the website: (1)the subjective opinions of the authors; (2)not an official explanations and interpretations of the norms of Kazakhstani and International law; (3)relevant on a date of their publication; (4)exclusively informative and have recommendatory character; (5)Can be used in any form with the written consent of an authorized representative of "Tleulin and Partners" Law Firm or via the link to the website.