STATE REVENUE COMMITTEE
OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN
Closing an individual entrepreneur in Kazakhstan in 3 days? Myth or reality?
A simplified procedure for the termination of the entrepreneurial activity of an individual entrepreneur. What does this mean, and what are the advantages for individual entrepreneurs?
In accordance with Article 67 of the Code of the Republic of Kazakhstan “On Taxes and Other Mandatory Payments to the Budget” the entrepreneurial activity of an individual entrepreneur may be terminated in a simplified procedure without an office audit and a tax audit in one of the following ways based on:
1) a tax application of the taxpayer to terminate the activity;
2) the written consent in a tax application for the suspension (extension, renewal) of the tax reporting submission or in the assessment of the value of a patent.
For this, an individual entrepreneur must meet the following conditions:
1) not to be registered as a VAT payer;
2) not to carry out activities in the form of joint ventures;
3) not to carry out certain types of activities (production of gasoline (except aviation), diesel fuel, wholesale and (or) retail sales of gasoline (except aviation), diesel fuel, production of ethyl alcohol and (or) alcohol products, wholesale and (or) retail sale of alcohol products, production and (or) wholesale of tobacco products, gambling business);
4) missing in terms of tax audits or in the list of selective tax audits based on the results of measures of the risk assessment system;
5) not having tax debts, social payment debts.
Let’s look at the first way:
In the case of taking a decision to terminate the activity, the individual entrepreneur must submit to the state revenue:
1) a tax application for termination of activity;
2) liquidation tax reporting;
3) a tax application for deregistration of the cash register (if any).
The state revenue authority on the basis of the written consent in a tax declaration for the suspension (extension, renewal) of the tax reporting submission or in the assessment of the value of a patent, independently deregisters the taxpayer as an individual entrepreneur in the following cases:
- failure to submit within sixty calendar days from the date of expiration of the patent or the termination of the period of suspension of the next assessment of the value of the patent;
- failure to submit after the end of the period of suspension of the tax reporting activity within sixty calendar days from the date of expiration of the tax reporting deadline.
Taking into account the above, we note that today, the state revenue authorities take appropriate measures to optimize public services, including the termination of the activities of individual entrepreneurs without a tax audit and an office audit in a simplified procedure.
The work in this direction, undoubtedly, in the long term will eradicate the stereotype that it is difficult to terminate entrepreneurial activities with the tax authorities.
Infographics can be viewed here.
of the State Revenue Committee MF RK
(Zhenis Ave, 11)