The procedure for introducing changes to the employment contract is regulated by Article 33.2 of the Labour Code of the Republic of Kazakhstan (hereinafter – the “Labour Code”). Article 33 provides that along with the addendum, the employee should also receive a notice. The employee has the right to inform the employer of his/her consent or otherwise to the transfer within five (5) business days after the receipt of the notice.
Coronavirus, global drop in oil prices, devaluation of the national currency have caused a number of questions for the employers of the Republic of Kazakhstan that shall be addressed immediately.
Moldovan state banking regulators issued only statements instructing financial institutions how to work with clients impacted by COVID-19/coronavirus and avoid contamination but nothing about: how to get ready for potential events of default?
In a view of imposing the state of emergency in the country from 16 March to 15 April 2020 on 17 March 2020 the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan announced that the following measures have been taken to support taxpayers for this period.
On 15 March 2020, the President of Kazakhstan (“RK”), K.K. Tokayev, signed a decree introducing state of emergency in Kazakhstan (“SE”) from 16 March to 15 April 2020. The decree is likely to cause contractual defaults, termination of contracts, sanctions, losses and litigation/arbitration in Kazakhstan and possibly abroad.
Due to the current situation with COVID-19, GRATA International is imposing temporary restrictions on overseas business trips for our staff and asking that they work from home.