Business liquidating procedure simplified in Kazakhstan

08.01.2018

Since 2018 the tax legislation of Kazakhstan provides for the possibility of a simplified procedure for the liquidation of legal entities and individual entrepreneurs, stopping activities in the presence of a conclusion from an audit organization, Kazpravda.kz reports.

"Taxpayers who have a turnover of less than 150,000 MCI in the past five years, who have not carried out certain types of activities (selling petrol, petroleum products, alcohol products, etc.) have the right to submit an application for termination, de-registration of the cash register and the audit conclusion, "the State Revenue Department of Almaty said.

It is also noted that the audit report on taxes should be drawn up no more than twenty days before the date of submission of the application for termination of activities. This provision will reduce the number of tax inspections conducted by state revenue bodies and increase the market of audit services.

Reported by the Kazakhstanskaya Pravda.