Foreign Exchange Controls for VAT Refunds: Form and Rules Approved

Approval and Effective Date: Kazakhstan’s Minister of Finance Order No. 506 (September 17, 2025) approves the form, rules, and deadlines for issuing foreign exchange earnings conclusions, effective January 1, 2026, for VAT refund purposes.

Submission Process: Territorial National Bank branches, second-tier banks, Development Bank of Kazakhstan, and Kazpost must respond to state revenue authority requests within ten working days, providing conclusions for export currency contracts or non-resident accounts.

Request Requirements and Signing: Requests must include taxpayer details, contract number and date, period, and order reference; conclusions must be signed digitally by the head or authorized official, ensuring secure, verifiable submission.