1 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. A career as a tax consultant.

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1 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. A career as a tax consultant with KPMG A career as a tax consultant with KPMG TAX Department Ward Jones February 2009

2 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Outline About KPMG Factors driving the demand for consulting services Tax department structure Services provided by the tax department Tax consultants’ activities and professional characteristics Your career with KPMG

3 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. What does KPMG stand for? Klynveld (Holland) In 1987, two leading accounting firms merged to become KPMG Peat (England) Marwick (USA) Goerdeler (Germany) K M P G

4 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. KPMG Services AuditTax servicesConsulting Services Tax advisory Tax compliance Tax reviews Due diligence Post-deal assistance Tax appeals Legal services Corporate finance Corporate recovery services Transaction services Accounting advisory services Regulatory compliance services Audit of financial statements Audit-related services

5 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. KPMG tax departments worldwide (number of employees) CIS (394) EMA (9200) Worldwide (18,800) Almaty and Astana (48) Kiev (48) Saint-Petersburg (28) Moscow (263) Yerevan (7)

6 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Principal factors driving the demand for consulting services Development of Kazakhstan’s economy GDP growth for the next 3 years is expected to average 4-5% per year Continued reliance on the energy and natural resource sector Financial sector reform – continued development of the securities market and financial instruments International expansion of Kazakhstan companies Loan market – issue of bonds, Eurobonds, securitization IPOs Mergers and acquisitions Exports of goods from Kazakhstan Improvements in the management and internal control of Kazakhstan companies

7 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Significant foreign investments in Kazakhstan economy Energy and natural resources Real estate Financial sector Consumer goods sector Kazakhstan Government’s plans to attract investments into infrastructure-related projects Principal factors driving the demand for consulting services

8 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Continuing reform of Kazakhstan’s legislation Taxation reform, including the following:   Switch to IFRS and the impact of IFRS on tax accounting   Introduction of new tax law   Development of procedures for the taxation of financial derivatives Interpretation of tax legislation by the tax authorities Reform of transfer pricing legislation Reform of labor legislation Reform of subsoil and subsoil use legislation Reform of securities legislation Principal factors driving the demand for consulting services

9 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Tax department structure Tax department Industry and trade sector Mergers and acquisitions Energy and natural resources Financial services Real estate, information and telecomm Legal services

10 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Tax consultants need to know the following: Criminal law The Civil Code Tax treaties Transfer pricing legislation The Customs Code Company law The Tax Code Currency regulations International Financial Reporting Standards The Labor CodeThe Code on Administrative Violations Subsoil and subsoil use legislation

11 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. The tax consultant’s work process Recording of business requirements Apply consultant’ s knowledge, experience, and professiona l judgment Analyze the client’s needs Develop and implement solutions Examples: Tax parts of memoranda on private placements of securities Formal analysis of tax aspects of the issue of Eurobonds

12 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Our services: Tax advisory Client concerns A client intends to invest in Kazakhstan or enter into a transaction with a party in Kazakhstan How we add value We can help structure the investment or transaction in a way to reduce tax costs within the bounds of tax legislation What we do Advise on reducing the amount of Kazakh-source income, avoiding limits on the deductibility of expenses and taking advantage of other means of lowering tax costs

13 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Our services: Tax compliance Client concerns A client intends to establish operations in Kazakhstan but is concerned that it has insufficient knowledge of Kazakhstan legislation to comply with tax law and avoid pitfalls in the area of taxation How we add value The company can outsource its compliance function to us to gain comfort that its tax reports meet legal requirements and take advantage of any opportunities available for reducing its tax costs in Kazakhstan What we do We can prepare all tax and statistical reports for the company based on financial/accounting data maintained by the company or outsourced to a separate bookkeeping company

14 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Our services: Tax reviews Client concerns A client’s management would like an independent opinion on the competence of its finance team and whether it can rely on the accuracy of tax declarations prepared by that team How we add value We can review the company’s tax obligations to determine whether the company is in compliance with tax law and whether there are tax-savings opportunities available What we do Independently analyze the company’s computation of its tax liabilities to determine whether they comply with tax law and could potentially be reduced Advise on ways to reclassify expenses or restructure transactions to reduce tax costs legally

15 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Our services: Due diligence Client concerns A client intends to grow its business by way of an acquisition or a company wishes to sell a subsidiary. The buyer or the seller seeks assistance with ensuring that the target’s tax and legal affairs are in order before the deal How we add value We use our extensive transaction experience to identify tax or legal issues that could be a deal breaker and must be resolved before the transaction takes place What we do Independently analyze the target to evaluate issues where the target faces exposure to taxes and recommendation of options for reducing tax exposure Advise on structuring the deal to reduce tax leakage and increase the seller’s after-tax profits Review or assist with drafting the sale and purchase agreement

16 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Our services: Post-deal assistance Client concerns A client intends to raise capital and requires assistance with determining and publicizing the tax treatment of the process How we add value We can assist with the preparation of a tax comfort letter for the offering circular, explaining the tax issues that potential investors might face What we do Identify potential issues to be addressed post-acquisition, provide recommendations how to address them and help with the integration process

17 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Our services: Tax appeals Client concerns A client undergoes a tax audit and incurs a significant tax assessment How we add value We can help prepare an appeal against the tax assessment and advise on all procedures and deadlines that the client must observe with respect to the appeal process What we do Prepare a defense supporting the position taken by the client and challenged by the tax authorities Advise on all avenues for appeal within the tax service and to courts of law, including the deadlines for appealing to each authority

18 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Work on a project involves: The client The project The KPMG service team The scope of work The timeframe The final work product

19 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Knowledge and skills needed by a successful tax consultant Knowledge of legislation and its implementation in practice Strong analytical skills Systematic approach to solving problems Strong communication skills Ability to think “outside the box” Strong business-writing skills Good command of English

20 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Being a KPMG tax consultant involves: Continuing improvement of professional knowledge Experience in consulting projects in different sectors of the economy Work in a team with different professionals from different fields Great opportunity to learn International qualifications Trainings Exchange of experience with leading KPMG practices Participation in the Global Mobility program Dynamic work Tight deadlines Ambitious goals

21 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Consultant Senior Consultant Manager Senior Manager Partner Long-term career perspectives Director Intern

22 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Our requirements Graduates or undergraduate seniors Fluent English Readiness to work under a tight schedule and travel on business trips Goal-oriented and hard-working Desire to learn and advance professionally

23 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Enrollment program for young specialists in 2009 Register in the KPMG Recruitment System or complete an application form and mail it with a CV to: Screening of candidates on the basis of a CV Testing Interview with an HR specialist Interview with tax department managers and partner Job offer

24 © 2009 KPMG Tax & Advisory LLC, Almaty, Kazakhstan, the member of KPMG International, a Swiss cooperative. All rights reserved. Contact information KPMG Tax & Advisory Dostyk Ave 180, Almaty Tel: +7 (727) The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.