- Kazakhstan will launch a pilot project introducing digital tenge with VAT marking for government procurement from February 2 to December 31, 2026.
- The project aims to simplify VAT administration, increase payment transparency, reduce tax risks, and ensure timely VAT payments to the budget.
- Participation is voluntary and involves government revenue and treasury committees, the National Bank, payment corporations, banks, procurement suppliers, and system developers.
- Suppliers will open digital accounts, convert funds to digital tenge, and pay VAT digitally, with payments tracked and restricted for VAT purposes only.
- Payments are verified online within 10 minutes, and VAT paid in digital tenge is processed through government accounts before being credited to the treasury.
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.
Latest Posts in "Kazakhstan"
- Kazakhstan Expands VAT Exemptions and Cuts Healthcare Sector Rates
- New Tax Code Amendments Proposed for Corporate Tax, VAT, and Excise Duties
- Importing Goods from Belarus to Kazakhstan: VAT Rules and Tax Calculation
- Kazakhstan Expands VAT Exemptions and Adjusts Reduced Rates in Healthcare Sector
- VAT Offset Rights Begin Only After Registration
