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Can a VAT payer be a micro-entrepreneur?
Can a VAT payer be a micro-entrepreneur?
A business entity with an annual income of up to 200,000 manats and an average number of employees of 10 or fewer is considered a micro-entrepreneurial entity.
Annual income includes the value of goods delivered, work performed, and services rendered during the reporting (calendar) year, as well as non-operating (non-sales) income.
According to Article 154.1 of the Tax Code, a person who is registered or required to be registered as a VAT payer is considered a VAT payer.
We inform you that, under Article 155.1 of the Tax Code, individuals engaged in entrepreneurial activity whose volume of taxable transactions exceeds 200,000 manats in any month(s) within a consecutive 12-month period — including those involved in public catering services who do not exercise the right defined in Article 218.1 of this Code (excluding those specified in Articles 218.4.1, 218.4.2, and 218.4.3) — are required to submit an application for VAT registration within 10 days from the date specified in Article 157.3.1 of the same Code.
It is important to note that if the volume of taxable transactions within a consecutive 12-month period exceeds 200,000 manats, the person is considered a VAT payer. This does not refer to the calendar year (which begins on January 1 and ends on December 31). There are also certain cases in which individuals are considered VAT payers regardless of the volume of their operations.
According to Article 154.6 of the Tax Code, producers of excise goods subject to mandatory labeling and persons engaged in building construction activities are considered VAT payers. These types of activities are subject to VAT regardless of the volume of operations.
A business entity with an annual income of up to 200,000 manats and an average number of employees of 10 or fewer is considered a micro-entrepreneurial entity.
Annual income includes the value of goods delivered, work performed, and services rendered during the reporting (calendar) year, as well as non-operating (non-sales) income.
According to Article 154.1 of the Tax Code, a person who is registered or required to be registered as a VAT payer is considered a VAT payer.
We inform you that, under Article 155.1 of the Tax Code, individuals engaged in entrepreneurial activity whose volume of taxable transactions exceeds 200,000 manats in any month(s) within a consecutive 12-month period — including those involved in public catering services who do not exercise the right defined in Article 218.1 of this Code (excluding those specified in Articles 218.4.1, 218.4.2, and 218.4.3) — are required to submit an application for VAT registration within 10 days from the date specified in Article 157.3.1 of the same Code.
It is important to note that if the volume of taxable transactions within a consecutive 12-month period exceeds 200,000 manats, the person is considered a VAT payer. This does not refer to the calendar year (which begins on January 1 and ends on December 31). There are also certain cases in which individuals are considered VAT payers regardless of the volume of their operations.
According to Article 154.6 of the Tax Code, producers of excise goods subject to mandatory labeling and persons engaged in building construction activities are considered VAT payers. These types of activities are subject to VAT regardless of the volume of operations.