Distressed supply chains - how can suppliers protect their position?
There is currently no shortage of global events imposing pressure on businesses' supply chains. There is no stopping the rise in raw material prices, which is driving price lists up to exorbitant levels. Nor does the shortage of raw materials seem to be anywhere close to resolved.
The European Union awards Moldova candidate status
As established in Article 49 of the European Union (EU) Treaty, any European country that respects the values referred to in Article 2 and is committed to promoting them may apply to become a member of the European Union. The decision on new EU membership is taken unanimously by the Council, after consulting the Commission and getting Parliament’s consent.
US sanctions in the context of Russia's invasion of Ukraine
As a result of Russia's invasion of Ukraine, the U.S., E.U., U.K. and their allies have implemented a broad array of sanctions and other economic measures intended to impose on Russia and its allies. The sanctions are intended to further increase the costs to Russia of prosecuting the war in Ukraine by cutting Russian acres to foreign revenue, services that could be used to evade sanctions, and finished goods and inputs used by Russian industry for military purposes.
The six packages of sanctions imposed by EU on Russian Federation
One of the instruments the EU is using to bring about changes and expert pressure on Russia to stop its military attack on Ukraine are sanctions. Sanctions are instruments of foreign policy and are based on Article 29 of the Treaty of the European Union.
Kazakhstan. Forthcoming Amendments to VAT/GST for Electronically Supplied Goods and Services
Almost a year ago, Kazakhstan introduced VAT which the foreign companies should pay for goods and services supplied electronically to individuals in Kazakhstan.
Kazakh Approach to the VAT/GST for Electronically Supplied Goods and Services
In January 2022, Kazakhstan introduces the obligation on the VAT payment by foreign companies that are engaged in e-commerce with goods or provide e-services to individuals. The Law, dated 10 December 2020, No. 382-VI supplemented the Code of the Republic of Kazakhstan ‘On Taxes and Other Obligatory Payments to the Budget’ (hereinafter - the ‘Tax Code’)’ with a new ‘Section 25. Features of Taxation of Foreign Companies When Engaging in E-Commerce with Goods, Providing E-Services to Individuals’.
Franchise regulations in Mongolia
There are several ways to start a business, including finding and running a new business, buying an existing business, or buying a franchise, etc. Nowadays, buying a franchise is the most commonly used form. Under a franchise agreement, a franchisor undertakes to grant to the franchisee a license established in accordance with the procedure, for the use of its intangible assets such as the firm's name, trademarks or service marks, industrial design, packaging, as well as business management systems, planning, communications, and principal guidelines on the procurement of goods and services.
This is to inform you that on 19 December 2020, the Law of the Republic of Kazakhstan ‘On the Introduction of the Amendments to Some Legislative Acts of the Republic of Kazakhstan on outstaffing services’ (hereinafter – the ‘Law’). Pursuant to the Law, the Labour Code of the Republic of Kazakhstan
This article covers such sensitive topic as tax exemption of dividends distributed by a Kazakh company in address of its foreign shareholders (participants). In particular, the recent tendency in the approach of the Kazakh tax authorities adopted in this regard.
Legal alert: Mongolia acceded to the Asia Pacific trade agreement
On 29 September 2020, Mongolia acceded to the Asia Pacific Trade Agreement (APTA) as its seventh member by depositing the instrument of accession after long negotiation and domestic procedures. Initially, Mongolia expressed its interest to join the APTA in 2009 . As prerequisite for the accession, it had conducted several negotiations with member countries (the People’s Republic of Bangladesh, the People’s Republic of China, the Republic of India, the Lao People’s Democratic Republic, the Republic of Korea, and the Democratic Socialist Republic of Sri Lanka), as well as adopted the Law on Ratification of Asia Pacific Trade Agreement on 12, December 2019 . The Agreement will be effective from 1 January 2021.
Impact of COVID-19 and its prevention measures on Mongolian economy
According to the latest update on national statistics, the Mongolian economy has shrunk by 10,7% in connection with the pandemic. The primary condition for the shrink is the decrease in the export of coal, copper and zinc concentrate, and oil due to declining demand for mineral resources in connection with the slowdown of Chinese economy, as the dependence from China is substantial. Following this, the current account deficit reached 767.0 million USD, increased by 368.9 million USD as of the first quarter compare to the same period of the previous year.