KazMunayGas to pay large fine for underdeclaration of taxes amount

ASTANA. KAZINFORM - Kazakh KazMunaiGas Exploration and Production (KMG EP) JSC will pay a fine of over 4 billion tenge (181.5 tenge = 1 dollar) for underdeclaration of the taxes amount, the press service of the Prosecutor's Office in Astana said Oct.21.

"The JSC was administratively liable under this article by the resolution of the specialized inter-district administrative court of Astana August 14, and an administrative penalty of a fine in the amount of 4 billion 645.22 million tenge has been imposed," said the statement. It is noted that the guilty entity incurred the corresponding responsibility, and the state budget was augmented by 4.6 billion tenge, Trend.az informs. During a tax audit in KMG EP JSC for the period from January 1, 2006 to December 31, 2008, it was established that the JSC understated tax declarations totaling 9 billion 290.44 million tenge, authorities said. A report on the administrative offense was drawn up regarding the JSC.