Changes in VAT refund rules effective from March 26, 2024 in Kazakhstan

• Changes have been made to the rules for refunding excess VAT
• The changes were made by the Minister of Finance of the Republic of Kazakhstan on March 12, 2024
• The new rules come into effect on March 26, 2024
• The purpose of the rules is to determine conditions for creating an analytical report on suppliers at risk of tax non-compliance
• The report aims to verify the accuracy of excess VAT amounts and identify risks of tax evasion by suppliers
• The report is generated for all levels of suppliers except in certain cases
• The report is also generated for service recipients under horizontal monitoring
• Direct suppliers are defined as those who supply goods or services directly to the recipient or through intermediaries
• Related parties are defined as entities with certain relationships such as one being a major shareholder of the other
• The rules aim to prevent tax evasion and ensure accurate reporting of excess VAT amounts

Source: uchet.kz

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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