LETTER OF THE TAX COMMITTEE OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of September 30, 2010 No. HK-21-28/11647

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan, having considered within competence the letter of August 10, 2010 No. 526-08/10, reports the following.

On the individual income tax

concerning the first question

By Item 2 of article 163 of the Code of the Republic of Kazakhstan "About taxes and other obligatory payments in the budget" (further - the Tax code) it is determined that if other is not provided by this Article, the income of the worker, taxable, any income gained by the worker from employer in cash or natural form including income gained in the form of material benefit and also on prisoners according to the legislation of the Republic of Kazakhstan between the employer and the third parties to agreements of civil nature under which the worker gains income specified in Articles 164, 165 Tax codes is.

According to the subitem 2) of Item 1 of article 164 of the Tax Code, the income of the worker, taxable, received by it in natural form, includes, including property value, received from the employer on a grant basis. Cost gratuitously of the performed works, the rendered services is determined in the amount of the expenses incurred in connection with such performance of works, rendering services.

Besides, according to the subitem 3) of Item 1 of article 164 of the Tax Code, the income of the worker, taxable, received by it in natural form, includes, including payment of the cost of goods by the employer, the performed works, the rendered services received by the worker from the third parties.

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