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Turnover threshold for mandatory VAT registration
Turnover threshold for mandatory VAT registration
According to Article 155.1 of the Tax Code, individuals engaged in entrepreneurial activity whose taxable transactions exceed 200,000 manats in any month within a consecutive 12-month period are required to register for VAT purposes. This also includes persons engaged in public catering activities who do not exercise the right provided under Article 218.1 of the Tax Code.
Such persons must submit an application for VAT registration within 10 days starting from the first day of the following month.
When determining the volume of taxable transactions, turnover generated from cashless payments via POS terminals in retail trade and services provided to persons not registered with the tax authority is taken into account with a coefficient of 0.5.
Additionally, persons for whom registration is not mandatory may voluntarily apply for VAT registration.
Basis: Article 155 of the Tax Code.
According to Article 155.1 of the Tax Code, individuals engaged in entrepreneurial activity whose taxable transactions exceed 200,000 manats in any month within a consecutive 12-month period are required to register for VAT purposes. This also includes persons engaged in public catering activities who do not exercise the right provided under Article 218.1 of the Tax Code.
Such persons must submit an application for VAT registration within 10 days starting from the first day of the following month.
When determining the volume of taxable transactions, turnover generated from cashless payments via POS terminals in retail trade and services provided to persons not registered with the tax authority is taken into account with a coefficient of 0.5.
Additionally, persons for whom registration is not mandatory may voluntarily apply for VAT registration.
Basis: Article 155 of the Tax Code.