Should an individual entrepreneur keep accounting records when carrying out activities under a simplified declaration?
Based on the provisions of the Law "On Accounting and Financial Reporting"
Individual entrepreneurs have the right not to keep accounting records (except for compiling and storing primary documents) and financial reporting if the following conditions are met:
1) apply a special tax regime based on a simplified declaration in accordance with the tax legislation of the Republic of Kazakhstan, and their income for the calendar year does not exceed 135,000 times the monthly calculation index (583,875,000 tenge).
2) are not registered for value-added tax;
3) are not subjects of natural monopolies.
If one of the conditions specified in this paragraph is not met, the individual entrepreneur is required to maintain accounting records and compile financial statements from the month following the month in which such a discrepancy occurred.