The newTaxCode has revisedtaxadministrationapproaches,including making it easier to refundexcessVAT.Now, a simplifiedprocedure for refundingexcessVATwill be appliedtoallexporters, which willaffectmore than a thousandtaxpayers.

The essence of the simplified procedure is an expedited VAT refund without verification, within 15 business days. The conditions for applying the simplified procedure are as follows:

- the exporter should not have unfulfilled notifications from the tax authorities; - the export turnover must be at least 50% of the total turnover;

- there mustbe a confirmedVATrefundamountwithin the last12months based on the results of the audit.

When determining the amount of VAT refund, a tax risk management system will be applied, which will, on the one hand, reduce risks and, on the other hand, ensure compliance with both sides.

 The legislation does notrestricttaxauthoritiesindetermining the amount of refund of excessVAT,which will allow the mostconscientioustaxpayers to refundup to the entireamount of excessVAT.

We remind you that under the current Tax Code, the simplified refund procedure can only be applied by certain categories of taxpayers (large taxpayers, manufacturers, as well as exporters of raw materials who convert foreign exchange earnings into tenge).

 In addition, the currentlegislationsetsasimplifiedVATrefundlimitof50%. up to 80percent,dependingon the taxpayer's category. About 40-50exportersenjoythisright,andafter the introduction of the changes, the number of suchtaxpayers will increase by morethan20times. In addition, the terms of VATrefund have been shortened.

Thus,with a simplifiedprocedure for refundingexcessVAT, thedeadlinewillstartfrom the date of the claim. Right now, the countdownstartsfrom the deadline for submittingtheVATdeclaration,thatis, from the 15th day of the secondmonth of the quarter.

The refund of excessVAT based on the results of inspections has also been reducedfrom75workingdaysto55workingdays,andthedeadlinewillstartamonthearlier.

This will allow you to refund the excess VAT 2 months earlier.

 Such changes will make it possible to increase the speed of financial turnover for export-oriented companies by promptly refunding VAT.

Source : https://www.gov.kz/memleket/entities/kgd-akmola/press/news/details/1056494?lang=kk