Today, a round table on VAT registration was held in the State Duma of Almaty. The chief specialists of the VAT Administration Department, A.T. Belgibayeva and Sh.B. Buribayeva, explained important aspects of tax administration. Highlights:

 

Who is required to register for VAT:

 

- Whose turnover exceeded the established minimum for the year (20,000 times the MCI).

 

- Non-residents working in Kazakhstan through branches or representative offices.

 

- Individual entrepreneurs and individuals engaged in private practice.

 

Important exceptions:

 

- The turnover of sole proprietors on simplified payment is not taken into account when making non-cash payments through a three-component system.

 

- Those who sell goods, works and services exempt from VAT are exempt from mandatory registration.

 

Liability for violation:

 

- The fine for late registration is 50 MCI.

 

- The fine for work without VAT is 15% of the turnover.

 

VAT registration is an important but uncomplicated process. The main thing is to comply with deadlines and requirements. The event was held in the format of an open dialogue, where participants actively discussed topical issues and shared their experiences.