The new wording of paragraph 25 of Article 1 of the Law of the Republic of Kazakhstan “On introducing amendments and additions to certain regulatory legal acts of the Republic of Kazakhstan on issues related to social security” dated 2 July 2018 #165-VI ZRK sets out the first part of paragraph 4 of Article 25 of the Law of the Republic of Kazakhstan dated 21 June 2013 “On Pension Provision in the Republic of Kazakhstan”:
“4. For lawyers, private bailiffs, private notaries, professional mediators, individual entrepreneurs, as well as individuals who receive income under civil legal contracts, obligatory pension charges to their own favor, payable to the uniform accumulative pension fund, and to be calculated for each month, shall be established at the rate of 10 percent of income earned, but not less than 10 percent of the minimum wage and not more than 10 percent of the 75-fold minimum wage established for the respective fiscal year by the law on the republican budget”.
Thus, individuals earning income under civil-legal contracts are obliged to pay OPC at the rate of 10 percent of income earned, but not less than 10 percent of the minimum wage and not more than 10 percent of the 75-fold minimum wage.
This legislative amendment is put into effect upon expiry of ten calendar days from its first official publication/ Published in “Kazakhstanskaya Pravda” newspaper #123 (28752) dated 3 July 2018.
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
CONFIDENTIALITY | LEGAL ASPECTS