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VAT relief to be canceled for agricultural producers starting 2018 in Kazakhstan

by March 30, 2017 Fun

Kazakhstan will abolish a number of VAT reliefs for agricultural producers starting 2018.

“Due to Kazakhstan’s accession to the World Trade Organization, we are reviewing the issue of abolishing certain VAT reliefs starting 2018, which contradict the requirements and principles of the WTO, � the Minister of National Economy Timur Suleimenov explained, speaking at a press conference in SCC.

In particular, it concerns the norm for decreasing the amount of VAT by 70%, paid to the budget by legal entities that process agricultural raw materials and agricultural producers of certain types of activities.

In addition, the norm reducing the amount of VAT by 70% will be abolished, paid to the budget by persons using a special tax regime for producers of agricultural products, aquaculture products and agricultural cooperatives.

Along with this, according to the principle of economic efficiency, taking into account the experience of the countries of the Organization for Economic Cooperation and Development, a revision of some existing tax incentives in the form of VAT exemption is envisaged.

Source: Government of the Republic of Kazakhstan