LETTER OF THE TAX COMMITTEE OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of August 6, 2009 No. HK-O8-22/7515

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan reports the following.

According to article 249 of the Code of the Republic of Kazakhstan of 12.06.2001. "About taxes and other obligatory payments in the budget" (Tax code) which validity is extended till 01.01.2012 according to article 49 of the Law of the Republic of Kazakhstan "About enforcement of "The code of the Republic of Kazakhstan "About taxes and other obligatory payments in the budget" (Tax code)" the procedure for provision of delay on payment of the VAT for imported goods is established

According to Item 7 of article 249 of the Tax Code tax authorities make repayment of the amounts of taxes on which payment due dates according to this Article are changed during the three-months period by method of offsets with the budget for the VAT for the realized goods, the performed works rendered to services. On the amount of outstanding debt the penalty fee from the first day after the expiration of the specified three-months period is charged.

Therefore, after the three-months period the payer of the VAT shall pay the VAT for imported goods on which amount the penalty fee will be added.

According to Item 1 of article 270 of the Tax Code the payer of the VAT shall provide the declaration on the VAT to tax authority in the location for each tax period no later than the 15th day of the second month following accounting tax period.

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