of April 21, 2009 No. HK-23-37/3702
The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan, having considered the letter of JSC A of March 16, 2009 No. 08/297 concerning explanation of procedure for the taxation of revaluation surplus of the right of subsurface use by transfer it as contribution to the authorized capital of subsidiary company, reports the following.
According to Item 2 of article 80 of the Code of the Republic of Kazakhstan of June 12, 2001 "About taxes and other obligatory payments the budget" (further - the Tax code), in gross annual income joins all income types of the taxpayer.
By Item 3 of article 10 of the Tax Code it is determined that concepts civil and other industries of the legislation of the Republic of Kazakhstan, used in the Tax code, are applied in that value in what they are used in these industries of the legislation if other is not provided by the Tax code.
Based on Item 2 of article 13 of the Law of the Republic of Kazakhstan of 28.02.2007. "About financial accounting and the financial reporting" (further - the Law) the elements which are directly connected with measurements of results of activities in the profit and loss statement are the income and expenses. The income - increase in economic benefits during the accounting period in the form of inflow or increments of assets or reduction of obligations which lead to the increase in the capital other than the increase connected with fees of persons participating in the capital.
According to Item 1 of article 13 of the Law, assets - the resources controlled by the individual entrepreneur or the organization as a result of last events from which receipt of future economic benefits is expected.
Thus, the gross annual income joins all subjects to obtaining (received) by the taxpayer during tax period and the income recognized according to the legislation of the Republic of Kazakhstan on financial accounting, taking into account regulations of the Tax code in the order of recognition of separate income types for the purpose of the taxation.
Chairman D. Ergozhin
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