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

of February 28, 2012 No. HK-08-22/1988

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan, having considered the letter of 19.08.2011 (further - the letter), reports the following.

According to article 266 of the Tax Code the VAT amount which is subject to budget payment on leviable turnover is estimated as difference between VAT amount, the Tax code added on leviable turnovers according to Article 268, and tax amount carried in offsetting according to article 256 of the Tax Code.

Therefore, exceeding of the VAT is the positive difference between VAT amount, added on leviable turnovers, and tax amount, carried in offsetting.

According to subitem part one 1) of Item 1 of article 272 of the Tax Code to return exceeding of VAT amount, carried in offsetting, over the amount of the accrued tax, developed according to the declaration the accruing result for the end of accounting tax period, according to the procedure, established by Articles 273, 274 Tax codes is subject to the taxpayer.

At the same time, the subitem part two 1) of Item 1 of article 272 of the Tax Code determines procedure for return of exceeding of the VAT formed in connection with purchase of goods, the works, services which are not used for the purpose of the turnovers assessed on zero rate is made within VAT amounts, carried on account of paid in case of acquisition of works, services from the nonresident who is not the payer of the VAT in the Republic of Kazakhstan and not performing activities through branch, representation according to Article of 241 of this Code.

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