Kazakhstan's Finance Ministry clarifies tax checks on mobile transfers amid scrutiny
Kazakhstan's Finance Ministry stated that banks will share data on mobile transfers with tax authorities only under certain conditions. This includes large volumes of transactions and high-risk payments, according to Deputy Minister Asset Turysov. The announcement comes amid increasing scrutiny of financial activities.
Conditions for Data Sharing
Deputy Minister Asset Turysov explained that banks will provide mobile transfer data to tax authorities only if transactions meet specific criteria. These criteria include a significant volume of operations and payments considered high-risk. The Ministry of Finance aims to ensure that only relevant financial activities are monitored, according to statements made at the Majilis.
Bank Involvement
Kazakhstan's banks are required to assess the risk level of transactions before sharing data with the tax authorities. This process is intended to prevent unnecessary scrutiny of ordinary financial activities. BES.media reported that the policy targets transactions that could potentially involve tax evasion or money laundering.
What's Next
The Finance Ministry plans to further define the criteria for high-risk transactions. It remains unclear how this will impact regular banking customers.
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Kazakhstan's Finance Ministry clarifies tax checks on mobile transfers amid scrutiny
