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

of April 5, 2004 No. NK-UM-08-5-17/2650

The Tax Committee of the Ministry of Finance of the Republic of Kazakhstan, having considered your letter, reports the following.

Earlier by the letter of February 7, 2004 No. NK-UM-08-5-17/910 us was given irrefragable answer on the question posed.

According to Item 1 of article 235 of the Tax Code in case of determination of VAT amount which is subject to budget payment, the receiver of goods (works, services) has the right to offsetting of VAT amounts, subject to payment for the received goods, including fixed assets, works and services if they are used or will be used for the purpose of leviable turnover. At the same time in case of commodity import the condition about payment of the VAT in the budget shall be satisfied.

By the subitem 2) of Item 2 of article 235 of the Tax Code it is determined that VAT amount, carried in offsetting, the tax amount specified in the cargo customs declaration which is drawn up according to the customs legislation of the Republic of Kazakhstan, and paid in accordance with the established procedure to the budget of the Republic of Kazakhstan, and not subject to return in accordance with the terms of customs regime is.

As appears from your letter, the VAT for imported goods it is carried by you in offsetting according to article 235 of the Tax Code. At the same time, despite underdelivery of imported goods, adjustment of customs value of imported goods you is not made, respectively, the VAT for imported goods is also not subject to adjustment.

Considering that adjustment of customs value of imported goods will not be made, therefore, the VAT amount on imported goods which is earlier carried in offsetting according to article 235 of the Tax Code is not subject to adjustment.

At the same time it is necessary to consider that the goods acquired on import for the purpose of the corporate income tax are subject to reflection according to article 92 of the Tax Code at the actual purchase value, that is taking into account adjustment.

First Deputy Chairman of the Tax Committee of the Ministry of Finance of the Republic of Kazakhstan

N. Usenova

 

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