Tax law. (Lecture 2) презентация

Содержание

PIT (Personal Income Tax) – ИПН (Индивидуальный Подоходный Налог); MS (Minimum Salary) – МЗП (Минимальная Заработная Плата); Pension (Compulsory Pension Contributions) - ОПН (Обязательные Пенсионные Взносы); Terms & Translations

Слайд 1Tax Law
Madi Kenzhaliyev, LL.M

Слайд 2PIT (Personal Income Tax) – ИПН (Индивидуальный Подоходный Налог);
MS (Minimum Salary)

– МЗП (Минимальная Заработная Плата);
Pension (Compulsory Pension Contributions) - ОПН (Обязательные Пенсионные Взносы);

Terms & Translations

Слайд 3Tax Burden under Employment Contract;
Tax Burden under Civil Contract;
Tax Burden of

Individual Entrepreneurs;

Goal

Слайд 4

Types of Taxes

Слайд 5Object of the PIT:
Revenues taxed at source (i.e. income from: salary,

dividends, interest, gains, pensions, scholarships, lump-sum payment);
Revenues not taxed at source (property income, income of IE, lawyers, private notaries, income derived from sources outside of RK).


Personal Income Tax

Слайд 6Rates of the PIT:
Revenues taxed at source - at the rate

of 10%;
Income from dividends – at a rate of 5%;
Other rates stipulated by the Tax Code.

Personal Income Tax

Слайд 7Paid by the IP’s and LE’s.
For IP:
GEP – 2 MCI;
Patent –

1%;
Simplified Declaration – 1,5%.

Social Tax for Employees - 11%.

Social Tax

Слайд 8LABOR CONTRACT KZT 300,000.
Taxable Income – Deductions – Pensions – Minimum

Salary – PIT = Net Income;

Case

Слайд 9LABOR CONTRACT KZT 300,000.
- Pension: 300K * 10% = 270,000;
- Minimum

Salary = 270,000 - 21,364 = 248,636;
- PIT = 248,636 * 10% = 24,864.
Social Tax =(Taxable Income – Pensions) * 11% = (300,000 – 30,000)*11% = 29,700;
Total Taxes = PIT + Social Tax =
= 24 863 + 29 700 = KZT 54 563


Case

Слайд 10Let’s assume that Arman also get’s free lunch at the expense

of the Firm.
Each lunch costs – KZT 1,500;

Does Arman bears tax liability for free lunches?
Calculate tax liability of Arman.

Case

Слайд 11November - 20 working days

Calculation:
1,500 * 20 = KZT 30,000;

Case

Слайд 12Tax Liability Calculation:
300,000 + 30,000 = 330,000;
Taxable Income – Deductions –

Pensions – Minimum Salary – PIT = Net Income;
Pension: 330K – (330K * 10%) = 297,000;
Minimum Salary = 297,000 - 21,364 = 275,636;
PIT = 275,636 * 10% = KZT 27,536.
Social Tax = (Total Revenue – Deductions - Pension)*0.11;
(330,000 – 33,000)* 11% = KZT 32,670;
Total Tax Liability = PIT + Social Tax = KZT 60,206

Case

Слайд 13Amount of Contract is KZT 300,000.

SERVICE CONTRACT
Arman is an IE (Individual

Entrepreneur)
Company doesn’t have to pay any taxes for Arman.

Case

Слайд 14For Legal Entities:
Taxable Income = (Aggregate Annual Income) - (Deductions);
Aggregate Annual

Income of local LE’s shall consist of income subject to be received (received) both in the Republic of Kazakhstan and beyond its boundaries during a tax period.

Tax Law

Слайд 15Alex’s salary is KZT 1 mln.

Business Trip for 12 days

to Moscow.
Carlton Hotel for 12 nights.
Cost per night was KZT 200,000.
Bonus - KZT 1 mln.
Vacation in France - 5 mln.
Company renovated his apartment for KZT 600,000.

How much will be tax burden of the company on Alex’s income?

Case

Слайд 16Art.163. Tax Code
Income of employees taxable at source of payments shall

be determined as the difference between income of employees assessed by the employers, which is subject to tax, subject to adjustments specified in Article 156 of this Code and amounts of tax deductions specified in Article 166 of this Code.

Tax Code

Слайд 17Art.163. Tax Code
1) the money in cash and (or) non-cash forms

to be transferred by the employer to the employee;
2) the employee's income in kind;
3) the employee's income in the form of material benefits.

Tax Code

Слайд 181. Total revenue = all income (in money or in kind,

art. 163) =
= Salary + Bonus + France + Renovation + Hotel stay =

= 1 mln.(salary) + 1 mln.(bonus) + 5mln.(France) + 0.6 mln.(Renovation) + 0.2 mln.*12 (hotel stay) =

10,000 000

Case

Слайд 19Deductions & Exemptions (art. 155 & 156) =
= business trip (art.

155 (3/4)
Max 8 MCI for abroad;
Max 6 MCI within RK;
(no more than 40 days)
8*MCI (1982 tenge)*12 days (business trip) =
KZT 190,272

Deductions & Exemptions

Слайд 20Maximum Pension
Maximum Pension =
= (75 * 21,364)*0.1 =
= KZT 160,230

Слайд 21PIT (Labor Law)
PIT = Taxable income *0.1
= (Total Revenue – Deductions

& Exemptions – Pension – Minimum Salary)*0.1 =

=(10,000,000 (total revenue) –190,272 (deductions & exemptions) – 160,230 (pension) – 21,364 (minimum salary))*0.1=

= 962,813.4

Слайд 22Social Tax (Labor Law)
ST = Taxable income *0.11 =
(Total Revenue

– Deductions - Pension)*0.11 =

(10,000,000 (total revenue) – 190,272 (deductions) – 160,230 (pension)) * 0.11=

= 1,061,445

Слайд 23Tax Burden (Labor Law)
Tax Burden of the Company =
PIT +

Social Tax
=
962 813 + 1 061 445 =
= 2 024 258

Слайд 24Tax Regimes of the IP



PIT – 10%;

PIT – 1,5%; PIT – 1%:
Social Tax – 2 MCI; Social Tax 1,5%; Social Tax 1%;
Deductions; No Deductions No Deductions;
Can Hire Employee Can Hire Employee Cannot Hire

Individual Entrepreneur

Generally Established Procedures

Simplified Declaration

Patent

Слайд 25Generally Established Procedures:
PIT – 10%;
Social Tax – 2 MS for oneself

and 1 MS for each employee of the IP;
Pension: personally identify the income from which pension contributions will be paid. Shall not be less than 10 MS (10* 21,364) and not more than 75 MS (75* 21,364).

Individual Entrepreneur

Слайд 26SERVICE CONTRACT
Arman is an IE: Generally Established Proc.
Amount of Contract is

KZT 300,000.
Expenses – KZT 50,000;
Taxable Income – 250,000;
PIT: 250,000 * 10% = 25,000;
Social Taxes – 2 MS = 2 * 21,364 = 42,728;

Case

Слайд 27Special Tax Regime - Patent:
PIT – 1%;
Social Tax – 1%
*Note: IP

can not hire employees and doesn’t have the rights to make deductions from the Taxable Income.

Individual Entrepreneur

Слайд 28SERVICE CONTRACT
Arman is an IE: Patent
Amount of Contract is KZT 300,000.
Expenses:

KZT 50,000;
Taxable Income: 300,000;
PIT: 300,000 * 1% = 3,000;
Social Taxes: 300,000 * 1% = 3,000;

Case

Слайд 29Special Tax Regime – Simplified Declaration:
PIT – 1,5%;
Social Tax – 1,5%;
*Note:

IP doesn’t have the rights to make deductions from the Taxable Income.

Individual Entrepreneur

Слайд 30SERVICE CONTRACT
Arman is an IE: Simplified Declaration
Amount of Contract is KZT

300,000.
Expenses – KZT 50,000;
Taxable Income – 300,000;
PIT: 300,000 * 1,5% = 4,500;
Social Taxes: 300,000 * 1,5% = 4,500;

Case

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