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

of August 16, 2010 No. HK-06-25/9618

Tax departments on areas, the cities of Astana and Almaty

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan (further - MF RK Oil Company) in connection with the arising questions on application of regulation of Item 1 of article 571 of the Code of the Republic of Kazakhstan «About taxes and other obligatory payments in the budget» (further - the Tax code), reports the following.

Article 571 of the Tax Code, with changes and amendments as of July 15, 2010, provides cases of removal of the taxpayer on value added (further - the VAT) from registration VAT accounting, including in case of submission by such payer of the tax statement for registration VAT accounting according to Item 1 of the specified Article.

At the same time the payer the VAT has the right to submit such tax application to tax authority in the location in case of simultaneous observance of the following conditions:

1) for the calendar year preceding year of submission of the tax statement, the size of leviable turnover did not exceed turnover minimum on realization, stipulated in Clause 568 Tax Codes;

2) from the beginning of the current calendar year at which such tax application is submitted the size of leviable turnover did not exceed turnover minimum on realization, stipulated in Clause 568 Tax codes.

It should be noted that simultaneous observance of the above-stated conditions is impossible if such tax application is submitted by the payer of the VAT, state registration in judicial authorities and tax authorities, and also registration as the payer of the VAT of which is made within one calendar year.

In this connection, in case of the appeal to tax authority of such payers of the VAT for the purpose of confirmation of removal from registration VAT accounting it is necessary to be guided by subitem regulations 2) of Item 1 of article 571 of the Tax Code.

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