How KPMG could help?
Tax compliance services
Kazakhstan tax system imposes very complicated tax compliance obligations on businesses. Our key inspiration is to provide a proactive, efficient and value-adding service to help clients meet all their compliance obligations. We think beyond the immediate compliance task to help deliver advice that adds value across the business.
Tax Risk Management
Limiting your exposure to tax-related fines and penalties is a priority for our tax team. We have significant experience conducting reviews of the tax compliance of local entities, checking the integrity and accuracy of a company’s tax systems and processes. This helps to limit the risk of inaccuracies or compliance failure and may mitigate the risk of future tax penalties.
Our approach to a tax compliance health check involves an inspection of a company’s financial records and supporting documents on a sample basis and an analysis of the company’s tax situation.
Our tax review services can be limited to specific taxes, such as corporate income tax, VAT or payroll taxes, or they can be a full-scope review of all applicable taxes. The review can also be limited to specific transactions or accounts, such as fixed asset balances, payroll costs or income tax withholding on payments to nonresidents.
We can leverage the information gained in a tax review to provide advice on how to reduce tax costs by restructuring transactions, reclassifying expenses or taking full advantage of the provisions of tax law to decrease tax liabilities.
We can also provide training to your in-house staff on tax compliance procedures and appropriate controls to facilitate your management of this process and encourage a correct and consistent approach.
Tax Accounting Policy Services
Kazakhstan has gradually been moving towards a more consistent and comprehensible tax system based on the Tax Code. Nevertheless, the Tax Code cannot provide an answer in all cases, so significant uncertainties remain, and professional assistance is therefore essential for dealing with them. Under the current Tax Code all taxpayers are required to develop, maintain and regularly update a tax accounting policy. This policy records the taxpayers’ tax accounting principles, policies and procedures in accordance with Kazakhstan tax legislation. In addition, it is a requirement to develop, maintain and regularly update tax registers to record and systemize information about a taxpayer’s operations. Preparing a tax accounting policy is a complicated and laborious task, as a great level of detail is required. Using our knowledge of Kazakhstan tax legislation and our experience in dealing with tax issues in practice, we can advise you on these new requirements and assist you in drafting a robust tax accounting policy and tax registers. Our knowledge and expertise enable us to give you advice and the assurance that your tax accounting system meets the requirements of legislation and also helps to achieve your business objectives.
Anti-Crisis Services
Due to the downturn in the Kazakhstan economy, KPMG provides clients with various kinds of tax services that focus on anti-crisis measures. Companies that fail to respond may risk losing value to competitors who are adapting to global tax trends and using tax to secure a competitive advantage.
Structuring services
Kazakhstan like many other countries all over the world tries to make its tax system attractive for international investments. Our professionals anticipate and respond to the changes in international and local tax environment and help our clients to structure their transactions in a tax efficient manner, without exposing them to significant tax risks.
Indirect Tax services
A tax that is simple in concept and complex in practice, Kazakhstan VAT is based on the European model. However, there are some differences that can lead the unwary into expensive pitfalls. Our indirect tax specialists together with professionals from other KPMG business units are able to provide a long lasting value which stands up to scrutiny in future.
Customs Services
Our experienced professionals can assist clients to leverage effective customs opportunities, understand compliance obligations, and implement practical transaction steps through the following services:
- compare different customs regimes, their benefits and procedures
- perform a complex customs compliance review
- provide forward-thinking advice and represent our clients if disputes arise.
Climate Change Advisory Services
Throughout the world we discover an increase in demand of joint implementation projects under the execution of the Kyoto Protocol principles. KPMG has been active in assisting companies in the development of joint implementation projects. Our teams often consist of international experts and local professionals. At your request we can quickly mobilize a team of qualified specialists providing our clients with robust and proactive advice.