On 30 December 2024 the Order of the Minister of Finance of the Republic of Kazakhstan dated 24 December 2024 No. 866 'On amendments to the Order of the Minister of Finance of the Republic of Kazakhstan dated 19 March 2015 No. 194 'On approval of the List of goods (works, services) which underlying international business transactions are subject to monitoring' (the 'Order').
The Order expanded the list of international business transactions which are subject to transfer pricing monitoring. In particular, now it is required to report transactions subject to transfer pricing monitoring on received and granted loans as well as related to:
- coal, briquettes, pellets and similar types of solid fuel obtained from coal;
- lignite or brown coal, agglomerated or not, except for jet;
- hydrogen, inert gases and other non-metals;
- cyclic hydrocarbons;
- polymers of ethylene in primary forms;
- polymers of propylene or other olefins in primary forms;
- sulfur of all types, except sublimated, precipitated or colloidal sulfur;
- unprocessed aluminum;
- aluminum wire;
- cadmium;
- semi-finished products made of iron or non-alloy steel;
- flat-rolled products made of iron or non-alloy steel;
- flat-rolled products made of corrosion-resistant steel;
- precious metal ores and concentrates;
- artificial corundum of a specified or indefinite chemical composition as well as aluminum oxide and hydroxide;
- rice;
- barley;
- wheat or wheat-rye flour;
- flax seeds;
- sunflower seeds;
- sunflower, safflower or cottonseed oil and their fractions, unrefined or refined, but without changing the chemical composition;
- natural calcium phosphates, natural aluminum-calcium phosphates and phosphate chalk;
- mineral or chemical fertilizers containing 2 or 3 nutrients: nitrogen, phosphorus and potassium, other fertilizers, goods of this group in tablets or similar forms or in packages, the gross weight of which does not exceed 10 kg;
- petroleum coke, petroleum bitumen and other residues from the processing of oil or petroleum products obtained from bituminous rocks;
- scandium compounds.
The Order comes into effect on 10 January 2025.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.