Seminar on a subject "Key changes in the tax and accounting law of 2019"

In pursuance of the Plan of vocational education of workers of RSE Gosexpertiza for 2019, on February 6, 2019 in Astana the seminar on the subject "Key Changes in the Tax and Accounting Law of 2019" took place. Participants of a seminar are employees of department of accounting and planning of central office and accountants of branches of RSE Gosexpertiza. During the seminar the following questions were considered: 1. The review of changes in the acts of the Republic of Kazakhstan regulating conducting accounting and drawing up financial statements: • The new Standard book of accounts of accounting (operating since 2019), approved by the Order MF RK of 02.10.2018 No. 877; • IFRS (IFRS) 9 "Financial instruments". Transition from model of the suffered losses to model of the expected losses, calculation and recognition of reserves for doubtful requirements (receivables, loans issued the money placed in banks of the second level) in financial statements; • IFRS (IFRS) 15 "Revenue from contracts with buyers". Five-step model by recognition of revenue. Recognition of revenue "in timepoint" or "throughout time". Concept of contract assets and obligations; • IFRS (IFRS) 16 "Rent". Accounting of rent at the tenant: new order. An exception of requirements for recognition of the right for rent and obligations for rent in financial statements of the tenant; • The rules of conducting accounting approved by the Order of the Minister of Finance No. 241 of March 31, 2015; • Order of the Minister of Finance of the Republic of Kazakhstan of February 27, 2015 No.143 "About the approval of the list and forms of annual financial statements for the publication organizations of public interest (except the financial organizations)". 2. Often found mistakes when conducting accounting and drawing up financial statements according to IFRS: • TOP-10 mistakes of the beginning accountant; • Mistakes by drawing up financial statements; • Mistakes at calculation of tax liabilities; • Mistakes at signing of the contracts of government procurement. 3. The changes in the tax law of the Republic of Kazakhstan which came into force since January 1, 2019. 4. Risk management system. 5. Extract of electronic invoices. Virtual warehouse. 6. Separate important aspects on KPN and the VAT in 2019: 7. Definition of deductions at calculation of taxable income; 8. Offset on the VAT; 9. Questions at an extract of electronic invoices. Upon termination of a seminar to participants certificates are issued.