Legislative Amendments Regarding VAT Offset Method For Imported Goods

The draft Order "On amendments and additions to the Order of the Acting Minister of National Economy of the Republic of Kazakhstan dated 21 February 2018, № 67 "On approving the List of imported goods for which Value Added Tax is paid by the offset method and the rules for its formation" has been published.

Due to the planned comprehensive work on the introduction of new energy capacities and the modernization of existing power plants, it is proposed to expand the list of goods that are subject to the VAT exemption through the offset method when importing goods.

The VAT exemption for new types of goods in the list can be applied by companies importing equipment under an investment contract for the implementation of projects related to the construction, modernization, expansion, and reconstruction of facilities in the electric power industry.