MinTax Group held a free-of-charge seminar in the city of Aktau with respect to amendments being entered into the tax legislation of the RoK from the 1st of January, 2009, tax disputes and IFRS. The seminar was of great interest for diversified companies doing business in the Mangistauskaya Oblast. The seminar attendees comprised about 140 officers and employees of financial (Chief Finance Officers, Financial Directors, Chief Accountants, Accountants) and legal services of enterprises and companies. With respect to the expected amendments being entered by the new Draft Tax Code, which is under consideration at the Mazhilis of the Parliament, and being put into force from the 1st January, 2009, Andrey Khorunzhiy, Managing Partner of MinTax, President of the Chamber of Tax Consultants of the RoK, who is directly participating in elaboration of the new Draft Tax Code, took the floor.

Based on practical experience of direct participation in legal proceedings and trials as to the legal disputes in the field of tax and civil legal relationship, Yerlan Galiyev, Director, Legal Department of MinTax LLP., Candidate of Legal Sciences, Certified Tax Consultant, covered in his report the expected innovations being entered due to adoption of the new Tax Code, in the field of appealing of notifications under the results of tax audits, actions (inaction) of officers of tax service bodies as well as legal aspects of mutual relations with the controlling bodies arising in the course of such disputes.

Rustam Tairov, Senior Manager of MinTax Audit LLP., who directly manages projects, within his professional activity, related to the audit of financial statements prepared in accordance with the IFRS, transformation and consolidation of financial statements for IFRS, elaboration of Accounting Policies meeting the respective requirements of IFRS, covered in his report the problematic issues of transformation for IFRS.

The report subject of Yerlan Rysbayev, Director, Department of Tax Consultations, MinTax LLP., Certified Tax Consultant, included issues related to the expected amendments being entered from the 1st January, 2009 by the new Draft Tax Code, with respect to taxation of individuals (IIT, Social Tax, Property Tax), Vehicle Tax, Property Tax of legal entities and individual entrepreneurs and etc. The speaker also reviewed the issues of reformation of taxation of small business entities.

In the nearest future, we expect to hold a number of seminars in other regions of Kazakhstan.