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

Article 124. Collection from the sale of restricted property of a taxpayer (tax agent) to pay debts to the state budget

1. If there is no or insufficient money in bank accounts of a taxpayer (tax agent) - a legal entity, a structural unit of a legal entity, a non-resident operating in the Republic of Kazakhstan through a permanent establishment, an individual entrepreneur, a professional with a private practice classified in the risk management category as major or average risk, or in bank accounts of his/her/its debtors or if a taxpayer or his/her/its debtors have no bank accounts, a tax authority, without his/her consent, shall issue an order for foreclosure on the taxpayer (tax agent)’s restricted property.

The order for foreclosure on the taxpayer (tax agent)’s restricted property shall be issued in the form approved by the authorized agency in two copies, one of which shall be sent to an authorized legal entity together with a copy of a decision to impose restrictions on the disposal of property and a copy of an inventory report.

2. An authorized legal entity sells restricted property of a taxpayer (tax agent) to pay his/her/its tax debts through auctions.

The procedure for the sale of property pledged by a taxpayer and/or a third party, as well as of the taxpayer’s (tax agent’s) restricted property, is approved by the authorized body.

3. Excluded by the Law of the Republic of Kazakhstan dated 10.12.2020 No. 382-VI (effective from 01.01.2021).

Footnote. Article 124 as amended by the Law of the Republic of Kazakhstan dated December 10, 2020 No. 382-VI (effective from December 16, 2020).



Article 125. Compulsory issue of authorized shares of a taxpayer (tax agent) that is a joint-stock company partially owned by the state

In case of failure to pay tax debts by a taxpayer (tax agent) that is a joint-stock company partially owned by the state, after all the measures stipulated in subparagraphs 1), 2) and 3) of paragraph 3 of Article 121 of this Code have been taken, the authorized body applies to court with a statement of claim for compulsory issue of authorized shares in accordance with the procedure established by the legislation of the Republic of Kazakhstan.

Deadlines for the fulfillment of tax obligations for the payment of taxes, payments to the budget, as well as obligations to pay penalties and fines to be satisfied by compulsory issuance of authorized shares under a court decision, are suspended from the date of entry into legal force of a court decision on compulsory issue of authorized shares and until their placement.