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Who is required to submit raw material and material consumption norms to the tax authority?
Who is required to submit raw material and material consumption norms to the tax authority?
If micro or small business entities that are VAT payers engage in production activities, are they required to submit information on raw material and material consumption norms per unit of product to the tax authority?
According to the State Tax Service under the Ministry of Economy, pursuant to Article 16.1.4-2 of the Tax Code, except for micro and small business entities, taxpayers engaged in production activities are obliged to submit electronically to the tax authority, by January 31 of each year, the approved form (by the relevant executive authority) containing information on raw material and material consumption norms per unit of product produced. In the event of any changes during the year, including the start of production of a new type of product, taxpayers are required to submit updated information to the tax authority within the same calendar year.
Under Article 57.3 of the Tax Code, failure to submit the form specified in Article 16.1.4-2 within the established period, or submission of false or distorted information, results in a financial sanction of 1000 manats imposed on the taxpayer.
In response to the inquiry, it is noted that, regardless of whether they are VAT payers or not, micro and small business entities are exempt from this obligation for the purposes of the mentioned article.
If micro or small business entities that are VAT payers engage in production activities, are they required to submit information on raw material and material consumption norms per unit of product to the tax authority?
According to the State Tax Service under the Ministry of Economy, pursuant to Article 16.1.4-2 of the Tax Code, except for micro and small business entities, taxpayers engaged in production activities are obliged to submit electronically to the tax authority, by January 31 of each year, the approved form (by the relevant executive authority) containing information on raw material and material consumption norms per unit of product produced. In the event of any changes during the year, including the start of production of a new type of product, taxpayers are required to submit updated information to the tax authority within the same calendar year.
Under Article 57.3 of the Tax Code, failure to submit the form specified in Article 16.1.4-2 within the established period, or submission of false or distorted information, results in a financial sanction of 1000 manats imposed on the taxpayer.
In response to the inquiry, it is noted that, regardless of whether they are VAT payers or not, micro and small business entities are exempt from this obligation for the purposes of the mentioned article.