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

of November 11, 2004 No. NK-UM-08-2-18/9239

About procedure for VAT return on zero rate

According to Item 1 of article 251 of the Tax Code, in the edition operating since January 1, 2002 if other is not provided by the specified article of the Tax Code, exceeding of tax amount carried in offsetting over the amount of the accrued tax for tax period becomes engrossed in reading on account of the forthcoming payments on the value added tax.

According to Item 2 of the above-named article of the Tax Code, on the turnovers assessed on zero rate, the exceeding specified in Item 1 of this Article returns to the taxpayer to value added according to the procedure, stipulated in Clause 252 Tax codes if the following conditions are satisfied:

1) the taxpayer on value added enables permanent sales of goods (works, services) assessed on zero rate;

2) the turnover on realization assessed on zero rate for each of three months preceding month of filing of application on return constituted at least 70 percent in total leviable turnover on realization. According to Item 3 of the specified article of the Tax Code in case of failure to carry out of conditions, stipulated in Item 2 called articles of the Tax Code, exceeding return to the taxpayer to value added regarding tax amount, carried in offsetting on goods (works, services) used for the purposes of the turnover assessed on zero rate taking into account its obligations on the value added tax for the previous tax periods.

At the same time on the turnovers assessed on zero rate, the value added tax return is made based on number of documents, stipulated in Clause 252 Tax codes, including the declaration on the value added tax for tax period.

In the Declaration on the value added tax (form 300.00), in the edition operating since January 1, 2002 and approved by orders of the Chairman of the Tax Committee No. 1646 of 04.12.01, No. 608 of 10.12.02, No. 493 of 03.12.03, (further - the Declaration) the VAT amount, subject to return on the turnovers assessed on zero rate for tax period is specified in line 300.00.027.

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