The Rules for organization and maintenance of tax accounting by individual entrepreneurs (IE) which according to the RoK Law “On Accounting and Financial Reporting” do not carry out maintenance of accounting and preparation of financial reports have been approved to the document: Order of RoK Minister of Finance dated 15^th March 2013 # 137 “On approval of the Rules for organization and maintenance of tax accounting by IE which according to the RoK Law “On Accounting and Financial Reporting” dated 28^th February 2007, do not carry out maintenance of accounting and preparation of financial reports”

The Rules have been elaborated in accordance with paragraph 2-1 of Article 56, paragraph 1 of Article 60-2 of Tax code, and in accordance with paragraph 2 of Article 2 of RoK Law “On Accounting and Financial Reporting”.

The Rules extend to those IEs, who in accordance with paragraph 2 of Article 2 of RoK Law “On Accounting and Financial Reporting” do not carry out maintenance of accounting and preparation of financial reporting.

The Rules prescribe the procedure for organization and maintenance of tax records, forms of primary accounting documents, requirements to preparation and storage of primary accounting documents.

IE shall ensure organization of tax accounting, including preparation, storage of primary accounting documents, as well as carrying out inventories.

Transactions and events shall be reflected in tax accounting with the attachment of originals of primary accounting documents.

IE shall ensure accounting of cash transactions and cash in hand. The accounting of transactions and petty cash shall be carried out by IE independently and (or) by a person authorized by IE – cashier.

Employees having the right to sign primary accounting documents are approved in documents in the written form. At that, subordination of the right of signature depending on an employee’s position, cash amounts, scope of operations and substance of transactions shall be established by IE.

In the absence of the foregoing document, responsibility for the right to sign primary accounting documents and for correctness of reflecting transactions in them shall be assigned to IE.

The Order shall be put into effect from the date of its first official publication and shall apply to relations arising from January 1, 2013.

 Source: ZAKON.KZ Information Service