RoK Law No 61–V ZRK dated 26th December 2012 “On introducing amendments andadditions to certain legislative acts of the RoK related to taxation” introduced amendmentsto RoK Code dated 10th December 2008 “On Taxes and Other Obligatory Payments to theBudget” (Tax Code), RoK Code “On Administrative Offences”

Law dated 31st August 1995 “On Banks and Banking Business in RoK”, Law “On StatePurchases” and others. In particular, according to the Law, liabilities on CommercialDiscovery Bonus will arise upon expanding contractual territory by subsurface users, theLaw introduces rates of the Levy for discharges to the environment when using kerosenesince 1st January 2014, electronic tax invoices, etc.

Liquidation of certain categories of legal entities and individual entrepreneurs will becarried out using a simplified procedure, on the basis of the results of in-house audits,without performing liquidation tax audits. The Law introduces special mechanismsof compulsory liquidation of inactive taxpayers, which have lost connection with taxauthorities and do not submit tax reporting.

The Law introduces a possibility to extend a deadline for the fulfilment of tax obligationson payment of assessed taxes and other obligatory payments to the Budget or penaltiesstated in the Notice of a tax audit results (without pledges and bank guarantees) for aperiod of up to 36 calendar months, for bona fide taxpayers.

When an administrative offence is committed for the first time, such a type of penaltyas “warning” is introduced with respect to certain types of administrative offences in thesphere of taxation.

Source: comment of mintax.kz.