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

Article 201. General provisions

For the purposes of applying the provisions of this Code in terms of maintaining tax accounting and procedure for determining and fulfilling tax obligations by individual entrepreneurs not maintaining accounting records and not compiling financial statements in accordance with the Law of the Republic of Kazakhstan “On Accounting and Financial Statements”, the following definitions are used:

1) assets – property, controlled by an individual entrepreneur, which is expected to bring economic benefit in the future;

2) accounting source documents - documentary evidence, both in hard and soft copy, of the fact of a transaction or event and the right to perform it, on the basis of which tax accounting is maintained;

3) biological asset - an animal or a plant to be used in agricultural activity;

4) inventories - assets held for sale, as well as for use in the process of production, for administrative purposes or in performance of works, rendering of services;

5) equity - a share in the assets of an individual entrepreneur, remaining after deducting all the obligations;

6) income - an increase in economic benefit during areporting period in the form of asset inflows or asset enhancement or a decrease in liabilities that results in an equity increase other than that related to equity participant contributions;

7) intangible asset - an identifiable non-monetary asset that is not physical in nature and intended for the use in production or for administrative purposes, also for property lease (rent) to other persons;

8) liability - current obligation of an individual entrepreneur, the settlement of which will result in the disposal of resources with economic benefit;

9) fixed assets - tangible assets that:

are intended for the use in production or for administrative purposes when selling goods, performing works, rendering services, also for property lease (rent) to other persons;

are expected to be used for more than one year.