The State Revenue Committee has tightened control over financial transactions of Kazakhstanis by implementing the Smart Data Finance system. However, as tax consultant Raushan Tasshoinova from Qazaq Expert Club explained, not every mobile transfer will raise suspicion, reports the website infohub.kz.
After the launch of Smart Data Finance, many Kazakhstanis feared that tax authorities would track every transfer. Tasshoinova explained that the system has indeed expanded control capabilities. It is a Big Data repository combining 74 sources, including data from all banks and government agencies. It accumulates information on real estate, vehicles, land plots, shares, securities, international transactions, mobile transfers, and other operations. Thus, a digital dossier is formed for each individual and legal entity.
The system generates approximately 500 analytical reports monthly. However, it does not assess taxes or impose liability, but merely identifies transactions requiring verification.
The expert noted that a card transfer could be payment for goods or services, repayment of a debt, a gift, or other operations that are not income. "Questions may arise not only regarding large sums. If money is systematically received from a large number of different people and the nature of the transactions resembles entrepreneurial activity, such operations may indeed attract the attention of tax authorities regardless of the size of individual transfers," said Raushan Tasshoinova.
Also, transfers for services or goods fall under suspicion if the person does not report to the tax authority. In addition, discrepancies between official income and expenses draw attention, when significant spending occurs with minimal income.
Tasshoinova emphasized that most common situations do not constitute a tax violation. "In all these cases, the receipt of funds alone does not mean an obligation to pay tax. However, if questions arise, it is important to be able to confirm the origin of the money," the expert noted.
To avoid questions, the tax consultant recommends keeping documents that confirm the source of receipts in advance: contracts, receipts, bank statements, documents on property sales. It is much easier to keep them in advance than to restore them years later. If a notification arrives, explanations and supporting documents must be provided.
Recall that in March, the Smart Data Finance system, which collects information on every citizen, began operating in Kazakhstan. Vice Minister of Finance Aset Tursynov stated that if the system performs well, Kazakhstanis may no longer need to file tax declarations.