of December 24, 2009 No. HK-21-25/13218
1. Whether the company has the right to carry on deductions losses from revaluation of financial instruments, namely, losses from revaluation of shares of mutual investment funds?
2. In case of sale of shares at the price is lower nominal whether the taxpayer has the right to recognize the expenses attributable to deductions, in current period in tax accounting?
3. We sign the agreement of leasing according to which, the remaining balance of principal debt on each reporting date is revaluated, proceeding from change in the exchange rate of euro to tenge. As a result of growth of euro exchange rate, the difference in cost on reporting date was formed. Whether recognition of this difference as deductions in tax accounting is possible, applying provision of the Art. of Oil Company 100 of item 15 (the revaluation which is subject to payment)?
4. The company transfers leasing agreement obligations to other leasing recipient (secondary leasing). At the same time, by transfer of principal debt the initial leasing recipient gains income from reduction of obligations on payment of principal debt for unpaid obligations which includes in the taxable income. Whether the statement of the corrective account on realization on this asset (the initial account was drawn up in 2005), and what VAT rate shall be applied in that case is possible? Whether the company has the right - the lessor to reduce the taxable income by the amount of the corrective account? In what period it is necessary to make these changes?
The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan reports the following.
On the first question.
According to Item 1 of article 100 of the Tax Code, expenses of the taxpayer in connection with implementation of the activities directed to income acquisition are deductible in case of determination of the taxable income, except for the expenses which are not deductible according to the specified Code.
According to the subitem 3) Item 1 of article 12 of the Tax Code, securities - shares, debt securities, depositary receipts, shares of mutual investment funds.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.