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Tengrinews.kz - Kazakhstan continues to seek the most comfortable way to regulate the sphere of mobile transfers. The Ministry of Finance has introduced a new initiative.
Currently, banks are required to provide tax authorities with data on Kazakhstanis who receive more than 100 transfers from different individuals over three consecutive months. Another important criterion is that the account receiving the funds is not intended for business activity.
Now, the Ministry of Finance, together with the National Bank, will ease the regulatory conditions.
"The existing criteria will be supplemented with a threshold amount - incoming mobile transfers must exceed 12 times the minimum wage (1,020,000 tenge) over three consecutive calendar months," the statement said.
Thus, second-tier banks will be allowed not to provide data to tax authorities on Kazakhstanis who receive less than 1.02 million tenge over three months, even if the number of transfers exceeded 100 in three consecutive months.
The corresponding order from the Minister of Finance is currently under review by the National Bank. Therefore, a decision has not yet been made.
