ARTICLE 275 OF THE ADMINISTRATIVE CODE OF THE REPUBLIC OF KAZAKHSTAN: WHAT PENALTIES ARE PROVIDED FOR CONCEALING TAXABLE ITEMS?

ARTICLE 275 OF THE ADMINISTRATIVE CODE OF THE REPUBLIC OF KAZAKHSTAN: WHAT PENALTIES ARE PROVIDED FOR CONCEALING TAXABLE ITEMS?
The Department of State Revenue for Kostanay region explains what responsibility is provided for concealing taxable items and property subject to tax reporting.
1. Concealment of taxable objects
According to Part 1 of Article 275 of the Administrative Code of the Republic of Kazakhstan, a fine of 200% of the amount of taxes and other mandatory payments payable on the hidden object is provided for concealment of taxable objects.
If such a violation is repeated within a year after the imposition of an administrative penalty, the fine is 300%.
Example: if the amount of tax on a hidden object is 100,000 tenge, the fine will be 200,000 tenge, and in case of repeated violation — 300,000 tenge.
2. Concealment of foreign assets and bank accounts
If an individual has not reflected in the provided tax return the information to be declared:
About real estate and other property outside Kazakhstan;
About funds in foreign bank accounts.
A fine of 100 MCI is provided.
If the violation is not eliminated within a year after the imposition of an administrative penalty — 200 MCI.
Liability is applied separately for each relevant property and foreign bank account.
3. Late registration for VAT
If a taxpayer who is required to register as a VAT payer carries out taxable turnover without registration, a fine of 15% of the amount of taxable turnover for the period of absence of registration is applied.
Example: if the taxable turnover for the period of non-registration amounted to 10 million tenge, the fine will amount to 1.5 million tenge.
4. Concealment of imported goods
The concealment of taxable items also includes the failure to register goods imported into Kazakhstan from the member states of the Eurasian Economic Union (EAEU).
For such a violation, liability is provided in accordance with part 1 of Article 275 of the Administrative Code of the Republic of Kazakhstan.
HOW TO AVOID VIOLATIONS?
Reflect the objects of taxation in a timely and reliable manner.
Specify the assets and foreign bank accounts to be declared in the declarations.
Follow the requirements for VAT registration.
Ensure proper accounting of imported goods.
Check the correctness and completeness of your tax reports.
Legal basis: article 275 of the Code of the Republic of Kazakhstan on Administrative Offences.
Remember: timely and conscientious fulfillment of tax obligations helps to avoid financial losses and administrative liability!
Department of State Revenue for Kostanay region