The experts of OLYMPEX ADVISERS successfully rendered services on representation and defense of the Client in appealing the tax audit on transfer pricing before the authorized state revenue body and the courts of the Republic of Kazakhstan.
The essence of the disputed issues was to defend the legitimacy of setting by the Client of the market price for oil and gas supplied from Kazakhstan to China, Tajikistan and Europe, determining the differential (transport and related costs) for oil losses, inclusion of the market differential in the calculation, etc.
Total amount of taxes and a fine being appealed was 3.6 bln. tenge, of which 94% were successfully eliminated following the appeal.
Notes: The name of the Client company for the services described above is not disclosed in accordance with the confidentiality agreement between the parties.
Serik Zhamanbalin, Galymzhan Zhakupov, Nurzhan Karabayev, Yekaterina Nurperzentova, Assem Sabit.