On September 27, 2019 in the training center of “Auditors’ College” PAO in Almaty, MinTax Group represented by A. Khorunzhiy (Managing Partner), G. Narbekova and M. Bekzhigitov (Partners) has conducted two seminars on the following subjects:

1. “Organization of tax accounting through the accounting policies”.

Program of the seminar:

1. Bookkeeping as the basis of tax accounting
2. IFRS[1] in the taxation system
3. Conflicts of interests of users of financial and tax reporting
4. Accounting policy as a tool for tax planning
5. Exchange differences in tax accounting
6. Fixed assets in tax accounting and fixed assets in IFRS
7. Accounting for subsequent costs of fixed assets
8. Property tax
9. IFRS 6. “Exploration for and evaluation of mineral reserves”
10. Inventories. Measurement
11. Revenues from contracts, IFRS15
12. The role of tax accounting policies (TAP) at the present stage

2. “The practice of applying control of transfer pricing in the Republic of Kazakhstan”.

Program of the seminar:

1. Differences between the RF[2] and RoK[3] practices related to transfer pricing (hereinafter – TP)
2. The stages of development of Government control of TP in Kazakhstan
3. OECD recommendations in respect of TP
4. Development of TP regulations in Kazakhstan
5. The concepts and control in relation to TP
6. Transactions which are subject to TP control
7. Example of possible double taxation on transactions in the RoK
8. The mechanisms of TP control
9. The monitoring scheme
10. Main products and services most exposed to the risk of inspection
11. Obligations of the parties to the transaction
12. Documentation related to TP and the monitoring reports
13. Transaction monitoring reporting
14. Problems related to transactions monitoring
15. Inter-country reporting
16. Interrelated parties
17. Extension of the concept of “interconnectedness of the parties to the transaction”
18. Risks associated with the expansion of the concept of “interconnectedness of the parties to the transaction”
19. Definitions of the concepts of “transaction” and “moment of sale”
20. Adjustment of taxable items
21. The adopted TP methods
22. The main methods of determining the market price in the Republic of Kazakhstan
23. List of official sources on market prices (approved by the Decree of RoK Government #788 dated 9 June 2001)
24. Comparison of selling prices with market prices under the current Law on TP
25. The example of a differential under the Law on TP
26. Practical issues on information for calculating the differential
27. Practical issues on components of a differential
28. Cases when the differential is not taken into account
29. Limitations of the quotation period
30. Quotation period
31. Agreement for applying TP
32. Information sources
33. Administrative fines

During the seminar, issues were discussed that often arise among students who are members of “College of Auditors” PAO in practice.

The presentation materials were sent to all participants to their e-mail addresses.

[1] International Financial Reporting Standards.
[2] Russian Federation.
[3] Republic of Kazakhstan.