CIT: line-by-line completion of tax form 100.00. Reconciliation with form 300.00. CIT changes

When comparing VAT and CIT turnover, which lines need to be summed in VAT form 300 and which in CIT form 100? Are there specific rules for comparing VAT and CIT data?

The law does not establish rules for comparing the data of the CIT return (form 100.00) and the VAT return (form 300.00). Depending on the type of business activity, taxpayers can identify such discrepancies themselves by comparing tax registers. The requirements for tax registers are established by Article 77 of the Tax Code, paragraph 1 of which states that a tax register is a taxpayer's document containing information on objects of taxation and (or) objects related to taxation.

Tax registers are intended to summarise and systematise information for the tax accounting purposes set out in paragraph 3 of Article 56 of the Tax Code of the Republic of Kazakhstan. Tax accounting data are formed by reflecting the information used for taxation purposes in chronological order, ensuring the continuity of tax accounting data between tax periods (including for transactions whose results are recorded in several tax periods, affect the size of the object of taxation in subsequent tax periods or are carried forward over a number of years). Tax registers are kept in the form of special forms. The forms of tax registers and the procedure for reflecting tax accounting data in them are developed by the taxpayer (tax agent) independently, except for the tax register forms established by the Government of the Republic of Kazakhstan, and are approved in the tax accounting policy. The persons who sign the tax registers are responsible for the correct reflection of business transactions in them. Where tax registers are available, to identify discrepancies between form 100.00 and form 300.00 data it is first necessary to consolidate the quarterly VAT returns line by line into a summary return for the year as a whole.

Next, the totals of the tax registers for aggregate annual income and deductions in form 100.00 are compared with the sales turnover and the turnover in the section «VAT amounts offset» of form 300.00.

When discrepancies are identified, each discrepancy is checked for reliability and validity in accordance with the provisions of the Tax Code.

The seminar does not set out to develop the company's tax accounting policy, of which tax registers and the rules for completing them are a mandatory element; we will only summarise the main discrepancies between the data of the CIT return (form 100.00) and the VAT return (form 300.00) that arise due to differences in the objects of taxation, in accordance with the provisions of the Tax Code as applied to common types of activity.