MinTax Group took part in a seminar on the theme: “Current fees and special taxes of subsoil users and important issues on them” organized by the Association of Taxpayers of Kazakhstan on 28 October 2013 in Almaty.
The lecturers on the following topics at the seminar were Mr. Andrey Khorunzhiy, Managing Partner of MinTax Group, President of the RoK PTC and Ms. Laura Satybaldina, Project Director of the Tax Department, MinTax LLP.
During the Seminar, our lecturers a also answered questions from the audience on topics concerned.
The program of the seminar:
1. General provisions on taxation of subsoil users
1.1. The history of taxation of subsoil users from the Soviet Union to date
1.2. Modern general principles of taxation of subsoil users
1.3. Difference between modern principles and the principles that existed before 1 January 2009, features of tax accounting for the transition period
2. The order of calculation and payment of the subscription bonus
2.1. The procedure for establishing
2.2. The procedure for determining the value of recoverable reserves
2.3. Terms and order of payment and possibility to refund the amount paid previously
2.4. Risks and procedures to minimize them
3. The calculation and payment of commercial discovery bonus (CDB)
3.1. CDB payers
3.2. Conditions of CDB occurrence and tax risks
3.3. Issues of the tax base determination and solutions
3.4. Issues of improvement of tax law on CDB
4. The order of calculation and payment of the Payment for reimbursement of historical costs
4.1. The procedure for establishing the amount of payments
4.2. Determining the date of the obligation to pay the payment
4.3. The procedure for calculating the payment amount as of the reporting date
5. The order of calculation and payment of the tax on production of useful minerals (TPUM)
5.1. History and development of TRUM
5.2. TPUM Payers
5.3. General principles for TPUM assessment
5.4. Item subject to TPUM
5.5. The difference for TPUM calculation on oil supplies to the domestic market of Kazakhstan
5.6. Allocation of item subject to TPUM as per the different conditions of taxation
5.7. Tax risks on TPUM
5.8. Tax planning on TPUM
5.9. Tax accounting considerations and TPUM tax registers
6. The order on calculation and payment of the Rent Export Tax (RET)
6.1. History and development of RET in the Republic of Kazakhstan
6.2. RET Payers
6.3. General principles for RET assessment
6.4. Item subject to RET
6.5. The difference for RET calculation on oil supplies to the domestic market of Kazakhstan
6.6. Allocation of item subject to RET as per the different conditions of taxation
6.7. Tax risks on RET
6.8. Tax planning on RET
6.9. Tax accounting considerations and TPUM tax registers
6.10. Issues of RET improvement
7. The order of calculation and payment of the Excess Profit Tax (EPT)
7.1. History and development of EPT in the Republic of Kazakhstan
7.2. EPT Payers
7.3. General principles for EPT assessment
7.4. Item subject to EPT
7.5. Net income for EPT and its assessment procedure
7.6. Deductions for EPT and its calculation procedure
7.7. Accounting considerations for capital expenditure
7.8. The levels for EPT calculation EPT rates on them
7.9. Allocation of EPT item as per levels
7.10. Example of EPT assessment
7.11. Tax planning for EPT
7.12. Tax accounting considerations and EPT tax registers
7.13. Issues on EPT improvement
8. Special features of tax accounting of subsoil users on the Corporate Income Tax (CIT)
8.1. Rules for maintenance of the separate tax accounting for CIT and its special features
8.2. The procedure for determining the direct and general income and expenses for the purposes of CIT
8.3. The reflection of the results of separate tax accounting in tax reports
8.4. Procedure for the application of paragraph 10 of Article 310 in the case of transmission of oil for refining or subsequent sale.
8.5. The practice of application of the difference in rates of IFRS and Tax Code as at the moment of recognition of income from sale.
8.6. Tax risks of tax accounting of operations connected with the formation of the decommissioning costs and expenses on liquidation of consequences of field development
8.7. Reflection of income by subsoil users from the keeping the social sphere
8.8. The accounting treatment and deductibility of expenses on exploration and further exploration
8.9. Tax planning of operations on assignment (sale) of interest in the contract
8.10. The order of tax accounting of fixed assets of subsoil users
8.11. The deductibility of expenditure under the contract for exploration if concluded, and in the future, a production contract
8.12. The order of deducting expenses on training employees and “Kazakh personnel”
8.13. The ability to use investment tax preferences and their reflection in the tax records.
8.14. Tax accounting policy and tax registers considerations
8.15. Tax risks and ways to minimize them
