As follows from our previous alert, the new rules on issue and circulation of accompanying notes in respect of goods were published on 31 December 2019. According to these rules the biofuel suppliers would have been obliged to issue the accompanying notes effective 1 January 2020.
Despite being relatively new, the current bankruptcy law in Uzbekistan (initially adopted in early 1990s) has improved drastically over the last decades. Uzbekistani insolvency regime, that was upgraded significantly throughout the several redrafts of the law, is still undergoing some changes that are being introduced as a part of its ambitious market-oriented economic reforms.
The Law of the Republic of Kazakhstan "On Introduction of Amendments to Certain Legislative Acts of the Republic of Kazakhstan on the Matters Related to Provision of Public Services" No. 272-VI was adopted on 25 November 2019. This piece of legislation, among other things, introduces amendments to the Law of the Republic of Kazakhstan "On State Registration of Legal Entities and Account Registration of Branches and Representative Offices" No.2198 dated 17 April 1995 (the "Law"). These amendments were put into effect on 8 December 2019. Below we list the most critical amendments:
On February 6, 2020, the Parliament of Kazakhstan ratified the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (“MLI”). Provided that the President of Kazakhstan signs the law on ratification in 2020, it is expected that the MLI’s provisions on withholding taxation will become effective from January 1, 2021.
The Parliament of the Republic of Kazakhstan is considering a draft law of the Republic of Kazakhstan 'On the Introduction of Amendments to Some Legislative Acts of the Republic of Kazakhstan on the Regulation of Digital Technologies'
It’s known that the management of each company must exercise effective supervision over the implementation of the compliance program with the competition laws. Competition violations can take various forms, and they can be made in very different circumstances. Not only written agreements may be illegal, but also verbal agreements or concerted practices. Surprising is the fact that even the mere presence in a context in which exchanges of information, discussions or anticompetitive offers take place can expose the company to the risk of applying a penalty by the Competition Council.