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According to the Law of the Republic of Kazakhstan “On Transfer Pricing”, a member of a multinational group is obliged to submit a notification on participation in a multinational group (further - Notification) no later than 1 September of the year following the reporting financial year to the authorized body. Thereby, the Notification for 2020 should be submitted no later than 1 September 2021.
The Notification should be submitted to the State Revenue Committee on paper or in electronic form using IS SONO certified by an electronic digital signature. The form of the Notification and the procedure for its completion are established by the Order of the Minister of Finance of the Republic of Kazakhstan No. 178 dated 14 February 2018.
Failure to submit a Notification by a member of a multinational group or submission of a Notification containing inaccurate information entails liability in accordance with the laws of the Republic of Kazakhstan.
Authors:
- Anuar Mukanov
- Yuliya Barsukova