PRESS RELEASE To the order of the Minister of Finance on amendments to the VAT Refund Rules
In order to reduce business costs and simplify the VAT refund procedure, the Ministry of Finance of the Republic of Kazakhstan has made a number of changes to the VAT Refund Rules (Order of the Minister of Finance of the Republic of Kazakhstan dated March 12, 2024 № 137 «On Amendments and Additions to the Order of the Minister of Finance of the Republic of Kazakhstan dated March 19 No. 391 of 2018 «On Approval of the Rules for the Refund of Excess Value Added Tax and the application of a risk management system in order to confirm the reliability of the amount of excess value added tax, as well as criteria for the degree of risk»)
During the development, the comments and suggestions of the business community were taken into account, which were discussed jointly with the Association of Taxpayers of Kazakhstan and NCE «Atameken», in particular:
- the risks of applying tax evasion schemes are specified;
- when determining the amount of VAT to be refunded, violations committed by suppliers-manufacturers of goods and other categories of suppliers are not taken into account.
The changes introduced will simplify the procedure for VAT refunds to domestic producers and reduce disputes.