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

of October 9, 2013 No. HK-11-7454-HK-7599

We report that according to article 526 of the Code of the Republic of Kazakhstan "About taxes and other obligatory payments in the budget" (Tax code) the rate of payment for use of navigable waterways (further - payment) is determined from the calculation of 0,26 of the monthly settlement indicator established by the law on the republican budget and operating for January 1 of the corresponding financial year in which there will be right to use by navigable waterways, for 1 gross register ton.

According to Item 1 of article 527 of the Tax Code the amount of payment is determined proceeding from rate of payment, gross tonnage of the vessel in register tons and the actual term of use of navigable waterways, but at least the size of payment for one calendar month.

Thus, the calculation of payment established by the Tax code did not change also after introduction of corresponding changes.

For example, (calculation of payment for 2012)

Gross tonnage - 100

The actual term of use (month) - 5

The navigation period - 6.

The annual amount of payment for use of navigable waterways is determined: payment rate 0, x 1618 (MRP) x 100 (gross tonnage) x 5 (actual term of use) = 210340 tenges.

According to Item 2 of article 527 of the Tax Code the amount of monthly payment is determined by division of the estimated annual amount of payment for navigation, established by authorized state body in the field of transport the current year.

Thus, the rate determined in article 526 of the Tax Code is used for calculation of the annual amount of payment.

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