12.11.2024, 13:31
Kazakhstan has expanded the list of goods with minimum import prices
Source: OREANDA-NEWS
OREANDA-NEWS Starting from January 1, 2025, Kazakhstan expands the list of goods for which the minimum price level (MTC) is determined when importing, the new decree includes fresh chicken eggs, wheat flour, wheat, sunflower oil (packaging less than 10 liters) and baking yeast, the Russian Export Center reports (part of the VEB.RF).
"Russian exporters can monitor such changes in foreign legislation affecting export-import operations on the free interactive information and analytical platform "Analytics. Barriers and market requirements" of the Russian Export Center (part of VEB.RF). This platform provides up-to-date and reliable information necessary for successful business at the international level, which allows you to be aware of all changes and adapt your business strategies to Russian exporters in a timely manner," the message says.
As specified in the REC, the introduction of MutS is a common practice in many countries when trading agricultural products. In Kazakhstan, this measure is used to calculate value added tax (VAT) on imports of goods from the countries of the Eurasian Economic Union (EAEU). If the price declared by the importer is lower than the minimum price, VAT is calculated based on the minimum price.
The MTC is calculated by the Ministry of Trade and Integration of the Republic of Kazakhstan (MTI RK) and is published on its website twice a year (June 15 and December 15). The calculation is performed as an arithmetic mean of the average producer price and the average cost of imported goods from the EAEU countries.
However, the expansion of the list of goods falling under the MOU required adjustments. Taking into account the seasonality of prices for some of the added products, the frequency of revision of the MOU will change from semi-annual to quarterly. The draft of the relevant order was published on November 6 on the Open NPAs portal of the Open Government of Kazakhstan.
"Russian exporters can monitor such changes in foreign legislation affecting export-import operations on the free interactive information and analytical platform "Analytics. Barriers and market requirements" of the Russian Export Center (part of VEB.RF). This platform provides up-to-date and reliable information necessary for successful business at the international level, which allows you to be aware of all changes and adapt your business strategies to Russian exporters in a timely manner," the message says.
As specified in the REC, the introduction of MutS is a common practice in many countries when trading agricultural products. In Kazakhstan, this measure is used to calculate value added tax (VAT) on imports of goods from the countries of the Eurasian Economic Union (EAEU). If the price declared by the importer is lower than the minimum price, VAT is calculated based on the minimum price.
The MTC is calculated by the Ministry of Trade and Integration of the Republic of Kazakhstan (MTI RK) and is published on its website twice a year (June 15 and December 15). The calculation is performed as an arithmetic mean of the average producer price and the average cost of imported goods from the EAEU countries.
However, the expansion of the list of goods falling under the MOU required adjustments. Taking into account the seasonality of prices for some of the added products, the frequency of revision of the MOU will change from semi-annual to quarterly. The draft of the relevant order was published on November 6 on the Open NPAs portal of the Open Government of Kazakhstan.
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