Article 4. Powers of authorized bodies Transfer Pricing Law

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1. Authorized bodies for the purposes of control have the right:

1) request from the participants of the transaction, government agencies and third parties, in accordance with the procedure established by the laws of the Republic of Kazakhstan, the information necessary to determine the market price and differential, as well as other data for monitoring transactions;

2) excluded by the Law of the Republic of Kazakhstan dated January 13, 2014 No. 159-V (effective ten calendar days after the date of its first official publication);

3) monitor transactions;

4) excluded by the Law of the Republic of Kazakhstan dated January 13, 2014 No. 159-V (effective after ten calendar days after the date of its first official publication); 5) excluded by the Law of the Republic of Kazakhstan dated January 13, 2014 No. 159-V (effective after ten calendar days after the date of its first official publication);

6) conclude an agreement on the application of transfer pricing in accordance with the procedure determined by the authorized body;

7) send a request to the participant of the international group to submit to the authorized body the main and (or) intercountry reports for the reporting financial year in the cases established by Articles 7-2 and 7-3 of this Law.

2. Excluded by the Law of the Republic of Kazakhstan dated 05.07.2011 No. 452-IV (effective from 13.10.2011).

3. Authorized bodies are obliged to:

1) respect the rights of the parties to the transaction and the participants in the international group, which are subject to the provisions of this Law;

2) to protect the interests of the state;

3) consider the economic justification of the applied price, including documents confirming the transaction price and the differential, information on the use of one of the methods of determining the market price and other information confirming the validity of the applied price;

3-1) to consider the application of the participant of the transaction for the conclusion of an agreement on the application of transfer pricing within ninety working days from the date of receipt of the application from the participant of the transaction;

3-2) send a written response to the participant of the transaction with the reasons for the refusal to conclude an agreement on the application of transfer pricing within five working days from the date of the decision based on the results of consideration of the application of the participant of the transaction;

4) explain the procedure for filling out the forms of established reporting on monitoring transactions;

5) to observe the secrecy of information obtained during the control;

6) to review the complaints of the participants in the transaction based on the results of the audit in accordance with the laws of the Republic of Kazakhstan.

4. Authorized bodies perform other powers provided for by this Law, other laws of the Republic of Kazakhstan, acts of the President of the Republic of Kazakhstan and the Government of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated July 5, 2008 No. 67-IV.

President

Republic of Kazakhstan

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