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Preparation

Preparation. Tax Burden from the Source of Revenue. Formula under Labor Law (Art.158,358). TI (taxable income)=TR-Deductions PIT = ( TR- Deductions-Pension-Min.Salary ) *0.1 PIT = (TI-0.1*TI-18,660)*0.1 Social Tax = (TR-Deductions-Pension)*0.11 Social Tax = (TI-0.1*TI)*0.11

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Preparation

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  1. Preparation Tax Burden from the Source of Revenue

  2. Formula under Labor Law (Art.158,358) TI (taxable income)=TR-Deductions PIT = (TR- Deductions-Pension-Min.Salary)*0.1 PIT = (TI-0.1*TI-18,660)*0.1 Social Tax = (TR-Deductions-Pension)*0.11 Social Tax = (TI-0.1*TI)*0.11 Tax Burden = PIT + Social Tax

  3. Notice! Art.163-2 • TR – Total Revenue in Money and in Kind: -free lunch for employee -forgiven loan -vacation in Turkey -bonus

  4. Notice! can’t be taxed! • If TR=Min.Salary ( i.e. TR=18,660): All taxes=0 Art. 157: • Необлагаемый размер годового дохода • =12*18,660=223,920

  5. Notice! Art.22-1,St.on Pension Pension = TI*0.1 BUT if income ≥ 1,399, 500 KZT: Pension = 139,950 KZT

  6. Notice! Art. 155-4, 155-3(11, 27), 102-2 • Deductions: -free delivery from/to home -business trip within KZ: 6*1,713*N days (up to 40 days) -business trip abroad: 8*1,713*N days (up to 40 days) -expense on clients, partners (dinner): TR*0.01 ONLY UNDER LABOR LAW

  7. Formula under Civil Law (not IE) PIT = (TR - Deductions)*0.1 Tax Burden = PIT

  8. Formula under Civil Law (IE) Tax Burden = 0 ALWAYS

  9. EASY CASES

  10. Solutions under Labor Law Salary is KZT 150,000 a month • PIT = (150,000-15,000-18,660)*0.1 • Social Tax = (150,000-15,000)*0.11 • Tax Burden = PIT + Social Tax= 26,484

  11. Solutions under Civil Law (not IE) Salary is KZT 150,000 a month • PIT = 150,000*0.1 • Tax Burden = PIT = 15,000

  12. Solutions under Labor Law Salary is KZT 2,300,000 a month PIT=(2,300,000-139,950-18,660)*0.1 Social Tax=(2,300,000-139,950)*0.11 Tax Burden=PIT + Social Tax= 451,744.5

  13. Solutions under Civil Law (not IE) Salary is KZT 2,300,000 a month • PIT = 2,300,000*0.1 • Tax Burden = PIT = 230,000

  14. INTERESTING CASES

  15. Case with FREE LUNCH: Labor Law Salary is KZT 276,000 a month & free lunch (2,900 per lunch, 14 lunches a month) • TR = 276,000+2900*14 = 316,600 • PIT = (316,600-31,660-18,660)*0.1 • Social Tax = (316,600-31,660)*0.11 • Tax Burden = PIT + Social Tax = 57,977.4

  16. Case with FREE LUNCH: Civil Law (not IE) Salary is KZT 276,000 a month & free lunch (2,900 per lunch, 14 lunches a month) • TR = 276,000+2900*14 = 316,600 • PIT = 316,600*0.1 = 31,660

  17. Case with FREE DELIVERY: Labor Law Salary is KZT 347,000 a month & free delivery from work to home (cost of the delivery is 900 per day, 23 days). • TR = 347,000+900*23=367,700 • TI=367,700-900*23=347,000 • PIT = (347,000-34,700-18,660)*0.1 • Social Tax = (347,000-34,700)*0.11 • Tax Burden=63,717

  18. Case with FREE DELIVERY: Civil Law (not IE) Salary is KZT 347,000 a month & free delivery from work to home (cost of the delivery is 900 per day, 23 days). • TR = 347,000+900*23=367,700 • PIT=367,700*0.1=36,770

  19. Case with BONUS: Labor Law Salary is KZT 1,700,000 a month & bonus 344,000 • TR = 1,700,000+344,000=2,044,000 • PIT = (2,044,000-139,950-18,660)*0.1 • Social Tax = (2,044,000-139,950)*0.11 • Tax Burden = 397,984.5

  20. Case with BONUS: Civil Law (not IE) Salary is KZT 1,700,000 a month & bonus 344,000 • TR = 1,700,000+344,000=2,044,000 • PIT = 2,044,000*0.1=204,400

  21. Case with BUSINESS TRIP: Labor Law Salary is KZT 575,000 a month & business trip within KZ (19 nights, hotel 21,000 a night, food 3,500 a day) • TR=575,000+19*21,000+19*3,500=1,040,500 • Deductions=6*1713*19=195,282 • TI=1,040,500-195,282=845,218 • PIT=(845,218-84,521.8-18,660)*0.1 • Social Tax =(845,218-84,521.8)*0.11 • Tax Burden =157,880.282

  22. Case with BUSINESS TRIP: Civil Law (not IE) Salary is KZT 575,000 a month & business trip within KZ (19 nights, hotel 21,000 a night, food 3,500 a day) • TR=575,000+19*21,000+19*3,500=1,040,500 • PIT =1,040,500*0.1=104,050

  23. Case with EXPENSE ON PARTNERS: Labor Law(ПРЕДСТАВИТЕЛЬСКИЕ РАСХОДЫ) Salary is KZT 3 mln. a month & gave clients 9 dinners (50,000) • TR=3,000,000+9*50,000=3,450,000 • Deductions=3,450,000*0.01=34,500 • TI=3,450,000-34,500=3,415,500 • PIT=(3,415,500-139,950-18,660)*0.1 • Social Tax=(3,415,500-139,950)*0.11 • Tax Burden=698,595

  24. Case with EXPENSE ON PARTNERS: Civil Law (not IE)(ПРЕДСТАВИТЕЛЬСКИЕ РАСХОДЫ) Salary is KZT 3 mln. a month & gave clients 9 dinners (50,000) • TR=3,000,000+9*50,000=3,450,000 • PIT=3,450,000*0.1=345,000

  25. Case with VACATION: Labor Law Salary is KZT 547,000 a month & vacation in Borovoe (750,000) • TR=547,000+750,000=1,297,000 • PIT=(1,297,000-129,700-18,660)*0.1 • Social Tax=(1,297,000-129,700)*0.11 • Tax Burden=243,267

  26. Case with VACATION: Civil Law (not IE) Salary is KZT 547,000 a month & vacation in Borovoe (750,000) • TR=547,000+750,000=1,297,000 • PIT=1,297,000*0.1=129,700

  27. Case with FORGIVEN LOAN: Labor Law Salary is KZT 570,000 a month & forgave the loan from the company in the amount of 300,000. • TR=570,000+300,000=870,000 • PIT=(870,000-87,000-18,660)*0.1 • Social Tax=(870,000-87,000)*0.11 • Tax Burden=162,564

  28. Case with FORGIVEN LOAN: Civil Law (not IE) Salary is KZT 570,000 a month & forgave the loan from the company in the amount of 300,000. • TR=570,000+300,000=870,000 • PIT=870,000*0.1=87,000

  29. INCREASE IN VALUE ПРИРОСТ СТОИМОСТИ Art.155-3(19-22)

  30. Increase in value / Gain (Приростстоимости) Car/apartment: • In property for 1 year or more: PIT=0 • In property for < 1 year: PIT=Gain*0.1 ONLY UNDER CIVIL LAW

  31. Increase in value / Gain (Приростстоимости) Shares (ценные бумаги): • Sell ≥ 50% of shares: PIT=0 • Sell < 50% of shares: PIT=Gain*0.1 ONLY UNDER CIVIL LAW

  32. Problems: Apartment Masha buys apartment at 1 mln, sells at 6 mln. after 13 years. How much is her PIT? • Gain=6mln-1mln=5mln • In property for 13 years → PIT=0

  33. Problems: Car Masha buys a car at 2 mln, sells at 4 mln. after 3 years. How much is her PIT? • Gain=4mln-2mln=2mln • In property for 3 years → PIT=0

  34. Problems: Shares ≥ 50% Masha buys shares at 12 mln, sells 51% of her shares at 16 mln. How much is her PIT? • Gain=16mln-12mln=4mln • Sell 51% → PIT=0

  35. Problems: Shares < 50% Masha buys shares at 11 mln, sells 30% of her shares at 13 mln. How much is her PIT? • Gain = 13mln – 11mln = 2 mln • Sell 30% → PIT = 2mln * 0.1 = 200,000

  36. Good Luck!

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