In Kazakhstan, efforts continue to find the most comfortable way to regulate the sphere of mobile transfers. The Ministry of Finance has introduced a new initiative, reports Tengrinews.kz correspondent.
It is important to note that currently, banks are required to provide tax authorities with information about Kazakhstanis who receive more than 100 transfers from different individuals over three consecutive months. Another significant criterion is that the account receiving the funds is not intended for entrepreneurial activities.
Now, the Ministry of Finance, in collaboration with the National Bank, will relax the regulatory conditions by introducing a minimum threshold.
"The existing criteria will be supplemented by a threshold amount - incoming mobile transfers must exceed 12 MZP (1,020,000 tenge) over three consecutive calendar months," the statement said.
Thus, second-tier banks will be allowed not to report to tax authorities about those Kazakhstanis who receive less than 1.02 million tenge over three months. Even if the number of transfers was more than 100 for three consecutive months.
The relevant order from the Minister of Finance is currently under review by the National Bank. This means that a decision has not yet been made.
Let us recall that earlier the State Revenue Committee proposed to introduce a limit on mobile transfers, setting a threshold at 3 minimum wages, or 255 thousand tenge.
