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Accredited in the Ministry of Agriculture of the Republic of Kazakhstan
Accredited in the National chamber of entrepreneurs "Atameken" of the Republic of Kazakhstan
The Prime Minister of Kazakhstan instructed to return confirmed VAT amounts to businesses 19.03.2024 в 14:22 66 просмотров

Prime Minister of the Republic of Kazakhstan Olzhas Bektenov instructed the Prime Minister of the Republic of Kazakhstan Olzhas Bektenov to return confirmed VAT amounts to businesses, as well as take measures to simplify the tax refund procedure.

“In 2023, VAT was returned to business, while about 600 billion tenge were not received by business entities. And this is about 485 companies exporting goods. Thus, working capital was seized from the business. This is a violation of the rights of entrepreneurs. In this regard, the Ministry of Finance needs to return confirmed VAT amounts to businesses,” Bektenov said.

The Prime Minister also instructed to take measures to simplify the VAT refund procedure.

“At the same time, I instruct you to work out mechanisms for when amounts of refunded VAT are reinvested by businesses in modernizing and expanding their activities,” he said.

According to Finance Minister Madi Takiev, half of the total amount of VAT debt has been returned to exporters.

“Over the past two months, we have returned about half of the total amount of VAT refund debt to exporters from the budget. This work will be continued,” Takiev said.

According to him, VAT refund procedures were revised in March. It is expected that, taking into account changes in approaches to tax analysis and handling of violations, the share of VAT refund confirmations will increase. Specialists are also developing an analytical system that will ensure the efficiency of this procedure.

Previously, exporters of agricultural products have repeatedly complained about the problem of non-refund of VAT. Last September, President of the Republic of Kazakhstan Kassym-Jomart Tokayev ordered to solve the problem of VAT refunds and streamline tax benefits.

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