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

of August 16, 2012 No. HK-21-11817-HK-7759

Association of Taxpayers of Kazakhstan

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan, having considered your letter of 30.07.2012 No. 382-07/12, pays attention that the blank form of invoices is not established by the tax legislation, and article 263 of the Tax Code establishes requirements regarding reflection of data in such invoice.

We do not consider violation of the tax legislation if:

for specifying of information about the receiver the name of the line "Buyer" was used;

for specifying of the location address the name of the line "Address" was used;

for specifying of the certificate of the supplier payer of the VAT on statement for registration VAT accounting the name of the line "The Certificate on Registration on the VAT" or "Certificate on Statement on Registration VAT Accounting" was used;

for specifying of the size of leviable turnover the name of the line "Cost of Goods Excluding VAT" was used;

for specifying of cost of goods, works, services the name of the line "In total Realization Value" was including VAT used;

for specifying of tax rate on value added the name of the line "VAT, Rate" was used;

for line in which the signature of the head is specified the name of the line "Head of the Organization" was used;

for line in which the signature of person is specified, according to the decision of the payer of the VAT of the representative to sign invoices, the name "Responsible for", "Authorized representative" was used.

We consider that the VAT can be carried in offsetting according to invoices, in which:

person, authorized to sign invoices for the head, the Head puts down the signature in line ": First name, middle initial, last name and signature of the representative";

person, authorized to sign invoices for the chief accountant, the chief accountant puts down the signature in line ": First name, middle initial, last name and signature of the representative".

We consider that need on replacement of the invoice which is written out according to requirements of article 263 of the Tax Code, no.

According to requirements of the Tax code in the invoice the information about the receiver of goods, works, services as not in all civil transactions person receiving goods, works, services is buyer are specified.

Also we report that for the purpose of informing taxpayers answers to questions are posted on the blog of the Chairman of MF RK Oil Company, and also on the official site MF RK www.salyk.kz Oil Company in the Section "Taxpayers" places letters of explanatory nature in which, including, this letter will be placed.

The essence of determination of direct cause and effect relationship with implementation of activities for the contract for subsurface use is stipulated in Clause 310 Codes of the Republic of Kazakhstan of December 10, 2008 "About taxes and other obligatory payments in the budget" (Tax code).

According to Items 1 and 2 of article 310 of the Tax Code the subsoil user shall keep separate tax accounting of the taxation objects and (or) objects connected with the taxation for calculation of the tax liability on contractual activities by each contract for subsurface use.

For the purposes of this Article the direct income and expenses mean the income and the subsoil user's expenses for accounting tax period, including the income and expenses on the fixed assets which have direct cause and effect relationship with the specific contract for subsurface use or extra contractual activities.

According to Item 7 of the specified Article classification of the income and expenses on direct, indirect and general is performed by the subsoil user independently proceeding from specifics of activities.

Direct income and expenses shall be carried in full only to those contractual or extra contractual activities with which they have direct cause and effect relationship.

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