The Committee for State Revenues of the Ministry of Finance has responded regarding the adoption of additional criteria for monitoring mobile transfers, reports Tengrinews.kz correspondent. It was previously announced that mobile transfers amounting to 255 thousand tenge would be brought under control in Kazakhstan.
The KGD explained the reasons for the necessity of this amendment. They noted that entrepreneurs are required to register with the tax authorities.
According to the Entrepreneurial Code, mandatory state registration as an individual entrepreneur is required for individuals whose annual income from private entrepreneurship exceeds 12 times the minimum wage (MW), calculated in accordance with the tax legislation of the Republic of Kazakhstan. The current MW is 85 thousand tenge.
"Thus, if an individual has an annual income from private entrepreneurship of less than 12 times the MW, they have the right not to register as an individual entrepreneur. Therefore, the following revision of the criterion is being considered: 'Receiving funds by one individual into a bank account from 100 or more different individuals monthly for three consecutive months, with a total amount exceeding 3 MW.' These proposals are currently under coordination with the National Bank of the Republic of Kazakhstan," the KGD informed Tengrinews.kz in response to an official inquiry.
The KGD clarified that monitoring mobile transfers aims to detect hidden incomes and unregistered entrepreneurs, as many businesspeople "receive payments for goods, works, and services into personal accounts not intended for entrepreneurial activities."
"According to paragraph 23 of Article 24 of the Tax Code, the criteria for classifying operations conducted on the bank accounts of individuals as operations that exhibit signs of income from entrepreneurial activities, as well as the procedure, form, and deadlines for providing information, are established by the authorized body in coordination with the National Bank of the Republic of Kazakhstan. In this regard, we inform you that if the proposals of the Ministry of Finance of the Republic of Kazakhstan are not supported, no changes will be made," the KGD stated.
In response to an official inquiry, the National Bank stated that mobile transfers themselves are not subject to control.
"Legislation does not impose restrictions on transfers between individuals that are not related to entrepreneurial activities. Such transfers are carried out freely within the conditions set by the servicing banks. At the same time, the determination of the criteria for operations related to entrepreneurial activities is an initiative of the Ministry of Finance of the Republic of Kazakhstan, which is currently being worked on and for which no final decision has been made," the National Bank declared.
Previously, the Committee for State Revenues of the Ministry of Finance announced plans to control mobile transfers of 255 thousand tenge in Kazakhstan. The committee also noted that the criteria for verification may be subject to change. The amendment is currently under coordination with the National Bank.
"The following changes are being considered: 'Receiving monthly into a bank account by one individual from 100 or more different individuals for three consecutive months, with transfers totaling more than 3 MW (a total of 255 thousand tenge in 2024)," the Committee for State Revenues stated earlier.
“Look for those who steal billions,” said a deputy regarding the control of mobile transfers in Kazakhstan.