Article 20-1. The specifics of currency control on the repatriation of national and (or) foreign currency for export or import by the state revenue authority The Law on Currency Regulation and Currency Control

Home / RLA / Article 20-1. The specifics of currency control on the repatriation of national and (or) foreign currency for export or import by the state revenue authority The Law on Currency Regulation and Currency Control

Article 20-1. The specifics of currency control on the repatriation of national and (or) foreign currency for export or import by the state revenue authority The Law on Currency Regulation and Currency Control

1. Currency control over the fulfillment by residents specified in paragraph 2 of Article 9 of this Law (hereinafter referred to as the audited resident) of the requirement to repatriate national and (or) foreign currency for export or import is carried out by the state revenue authority.

2. The state revenue body, when conducting currency control over the fulfillment by the audited resident of the requirement to repatriate national and (or) foreign currency for export or import, conducts an inspection and (or) carries out another form of control provided for in subparagraph 3) paragraph 3 of Article 20 of this Law.

3. Conducting an inspection does not require registration of an act on its appointment.

The verification is carried out without visiting the resident being checked by sending him a written request for information and (or) documents related to the conduct of a currency transaction, including the fulfillment of obligations under a currency agreement on export or import.

The written request shall specify:

1) the name, surname, first name, patronymic (if any) of the resident being checked, business identification number or individual identification number, and his location;

2) the basis of verification;

3) a list of requested documents (copies thereof);

4) information(s) requiring explanations, if necessary;

5) the deadline for providing the requested information and (or) documents.

4. The beginning of the audit is sending a written request to the address of the resident being checked, signed by an authorized official of the state revenue authority.

A written request sent by one of the following methods is considered to have been handed over to the resident being checked in the following cases::

1) by registered mail with notification – from the date of the checked resident's mark in the notification of the mail operator;

2) by electronic means:

from the date of delivery of the written request in the web application. This method applies to the resident being checked, who is registered as a user of the information system of the state revenue authority.;

from the date of delivery of the notification to the user's personal account on the e-government web portal. This method applies to the verified resident registered on the e-government web portal.

5. The requested information and (or) documents (copies thereof) shall be provided by the verified resident within the time limits specified in the written request of the state revenue authority, but no later than fifteen working days from the date following the date of receipt by the verified resident of the written request.

6. To clarify the information and (or) documents (copies thereof) available at the authorized bank serving the resident being checked, the state revenue authority sends a written request to such bank using another form of currency control provided for in subparagraph 3) paragraph 3 of Article 20 of this Law.

7. The completion of the audit of the state revenue authority is the date on which the authorized official signs the report on the results, which does not require signature by the resident being audited.

This Law regulates public relations related to the implementation of currency transactions, defines the goals and objectives of currency regulation and currency control.

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Republic of Kazakhstan

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