Electronic invoices are binding
The rule will become mandatory for all VAT taxpayers in 2017
The Tax and Customs Codes include amendments, according to which the transition to electronic invoices will be strictly compulsory.
some participants of foreign economic activity - authorized economic operators, owners of temporary storage warehouses etc., should resort to electronic documentation as of 2016, and all VAT payers in 2017.
Such rules are stipulated in the package of amendments to some legislative acts of Kazakhstan on the issues of taxation and customs administration, which was approved by deputies at the plenary session of the Mazhilis.
Among other innovations offered by the Ministry of National Economy, is the use of electronic invoices for the goods, which in 2016 will be introduced for import of alcohol and petroleum products, as well as for tobacco and for all goods in 2017.
The ministry also proposes that Authorized Economic Operators should be obliged to mandatory pre-declaration of goods in foreign trade activity. At the same time the documents for customs clearance must be submitted only in an electronic form.
There are exemptions in the draft law, for example, for second-tier banks. The Ministry of National Economy considers that it is possible to release them from payment of personal income tax at the forgiveness of debts under the program of the National Bank of Kazakhstan on refinancing the mortgage and housing loans as of July 1, 2016.
For legal entities, owning airfields and terminals, the authors of the bill propose to reduce the property tax rate from 1.5 percent to 0.1 percent. This privilege will not spread on the airports of Astana and Almaty.
Tax breaks can touch the vulnerable segments of the population, the threshold of income by which they will be prescribed to pay the personal income tax increased from 55 to 75 minimum salaries. Based on the figures it looks like this: from 1,175,020 to 1,602,300 tenge. The draft law proposes to extend the rules until 2022, according to which the payment of VAT on imports of goods will be done by offset method.
Good news are awaiting farmers engaged in distant-pasture cattle tending. They can increase the size of the total area of marginal agricultural land.
Meanwhile, the Minister of National Economy Erbolat Dosayev, who presented the draft law stated that a number of rules proposed by the deputies during the discussions of the working group, were submitted for additional examination to the Government. It is proposed to reduce the government severance tax on the extraction of groundwater from 1 MCI to 25% of 1 MCI, the abolition of the payment of the severance tax on off-balance sheet reserves, produced with low margin deposits, the return of VAT for five years, accumulated during exploration work.
In addition, Mazhilismen proposed to extend to 2009 the incorporated amendments to the exchange rate differences.
"These amendments, following discussions, further elaborations and development of a common position of the Government, will be presented to your attention in the form of the Government’s conclusion", - said E. Dosayev.
Perhaps, at the second reading of the draft law article by article, the Government will respond to deputies' proposals.
Zhanar Serdalina
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Унгварбаева И.С.