Economics

Foreign online stores will pay VAT in early 2022 in Kazakhstan

Photo: metamarketing.ru
The Senate of the Parliament of the Republic of Kazakhstan at a plenary session adopted amendments to the Tax Code and the law on the implementation of the Tax Code, Kazpravda.kz reports.

As Senator Gumar Dyusembayev explained, the amendments provide for a simplified procedure for registration and payment of VAT by foreign Internet companies providing goods and services in the Republic of Kazakhstan.

“In order to ensure the completeness and timeliness of VAT payment by these companies, it is proposed in the Tax Code from January 1, 2022 to provide for a simplified procedure for registering and paying VAT by foreign Internet companies providing goods and services in the Republic of Kazakhstan,” the deputy said.

At the same time, in order to ensure the completeness and timeliness of VAT payment by these companies, it is proposed to introduce the concept of "merchant ID", as well as to provide for the obligation of second-tier banks and payment organizations to provide information to state revenue authorities on the amount of payments and transfers made by individuals in favor of foreign Internet - companies on "merchant ID".

“This innovation on the VAT on goods sold via the Internet was adopted based on the experience of the developed countries - Australia, Great Britain and France. In general, the introduction of a digital tax will help equalize the competitive conditions for Kazakhstani and foreign companies,” the senator explained.
Author:
Laura Tusupbekova
13:45,25 November 2021
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