BAKU, Azerbaijan, May 27
Trend:
The members of the Senate of the Parliament of the Republic of Kazakhstan adopted the Law "On Ratification of the Protocol on Changes to the Treaty on the Eurasian Economic Union dated May 29, 2014", Trend reports citing Kazinform news agency.
While presenting the bill at the plenary session, the Minister of Finance of the Republic of Kazakhstan Yerulan Zhamaubayev said that this protocol was signed on October 1, 2019, in Yerevan city by the presidents.
Appendices #5 and # 8 to the Treaty on the Eurasian Economic Union were changed upon the protocol.
"The treaty entered into force on January 1, 2015, while the Customs Code of the Eurasian Economic Union was adopted in 2017,” the minister said.
“The norms of the Customs Code envisage the introduction of the institution of advance payments,” Zhamaubayev said. “In this regard, it became necessary to amend the treaty."
The minister added that advance payments are recognized as money contributed to pay for forthcoming customs payments and taxes, penalties and interest.
"At present, six types of customs payments and taxes can be paid during customs clearance,” Zhamaubayev said.
“Ratification of this protocol will allow participants in foreign economic activity to reduce time and financial costs,” the minister said.
“In particular, firstly, it will be possible to minimize the costs associated with the need to use several payment orders to pay customs duty for customs declaration, customs duty, value-added tax, excise duty, special, anti-dumping and countervailing duty,” Zhamaubayev said.
“Secondly, it will be possible to use the available advance payments as ensuring the fulfillment of the obligation to pay customs duties in such operations as placement in temporary storage warehouses, confirmation of customs value, when carrying out an expertise, etc.,” the minister said.
“Thirdly, participants in foreign economic activity will be able to use these payments to pay off the debt,” Zhamaubayev added.
“Fourthly, there is no need to track cash balances for each type of budget classification code separately," the minister said.
The customs body, on the basis of the application of the person who made the advance payments, submits to this person a report on spending the funds transferred as advance payments.