On taxes and other obligatory payments to the budget (Tax Code)

Article 192. Tax accounting rules

1. Unless otherwise established by this Code, a taxpayer (tax agent) shall maintain tax accounting records in tenge by the accrual method in accordance with the procedure and under the conditions established by this Code.

2. The accrual method is an accounting method, according to which the results of operations and other events are recognized after they are committed, also from the day of performance of works, rendering of services, shipment and transfer of goods to the buyer or his/her/its authorized person for the purpose of selling or registering property, and not from the date of receipt or payment of money or its equivalent.

3. On the basis of tax accounting for the results of a taxable period, a taxpayer (tax agent) identifies taxable and tax-related items and calculates taxes and payments to the budget.

4. For tax purposes accounting of the exchange rate difference, including determination of the exchange difference amount, shall be carried out in accordance with international financial reporting standards and (or) the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting.

5. Inventory accounting shall be carried out in accordance with international financial reporting standards and (or) the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting. Herewith, for tax purposes, the cost of inventories is determined without including the change in the value of inventories by writing it off to its possible net realizable value and recovery in respect of the previous write-off of inventories caused by an increase in the possible net realizable price.

Footnote. Article 192 as amended by the Law of the Republic of Kazakhstan dated 10.12.2020 No. 382-VI (effective from 01.01.2018).