The pilot project on VAT refund using digital tenge has been launched in Kazakhstan

Kazakhstan has started the pilot project on the return of value-added tax (VAT) using the digital tenge implementation. This was announced today during the "PLAS-Forum aDigital Kazakhstan" by the Director of the Audit Department of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan Kadyr Ismagulov.

According to him, the project is designed to simplify services for businesses, speed up tax administration and reduce corruption risks. Five exporters are already participating in the programme, and 10 more companies have applied for participation.

The project envisages a significant reduction in the time of VAT refund. The new mechanism reduces the refunds time from three months to three weeks, and in the future - to 15 days. This should speed up the turnover of funds at exporting companies and increase their financial stability, providing a more flexible business environment in the country.

The system also envisages the digital tender labelled for VAT settlement usage, which guarantees the intended use of funds only for settlements with suppliers and the budget. Additionally, the inspection process automation will reduce the number of tax audits, significantly easing the administrative burden on businesses.