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Tuesday, September 22nd, 2020

Kazakhstan to shift to mandatory electronic invoicing since 2018

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by October 26, 2016 Health

Transition to mandatory electronic invoicing is postponed to 2018-2019, Minister of National Economy Kuandyk Bishimbayev informed presenting the draft law On amendments and additions to some legislative acts of the Republic of Kazakhstan on the issues of taxation and customs administration at the Mazhilis of the Parliament.

After joining the World Trade Organization (WTO) in December 2015, Kazakhstan undertook a commitment to the EEU member states of creating the tracking system for goods, which are subject to reduced rates of custom duties. The system has already been created, but it was decided last year to postpone the introduction of electronic invoicing in order to introduce it in stages. The large taxpayers, who are subject to monitoring, will switch on January 1, 2018, while all other VAT payers switch to the system on January 1, 2019, K. Bishimbayev said.

According to the Minister, over 67,000 taxpayers are currently using electronic invoicing. The draft law, in general, aims to preserve entrepreneurial activity in agriculture and revitalization of the economy.

The bill is considered in the first reading.

Existing Tax Code provides for transition of all VAT payers to electronic invoicing since January 1, 2017.

Source: Government of the Republic of Kazakhstan

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