The new rules for regulating the prices of medicines ('Price Regulation Rules 2019') were adopted in April 2019. Over the past five years, this is the third regulatory legal act establishing the procedure for regulating the prices of medicines.
New rules on issue and circulation of accompanying notes in respect of goods were published on 31 December 2019. These rules are effective from 1 January 2020 except for certain provisions which come into effect on 1 April 2020.
Kazakhstan, at least on the surface, seems to have a strong political will to attract investments in renewable energy projects as demonstrated by its official general policy.
The Eurasian Economic Commission adopted a decision No. 109 dated 19 December 2019 . This decision expands the list of goods in which respect Kazakhstan, as a condition for its WTO accession, applies the rates of import customs duties which are lower than the rates of customs duties under the Common customs tariff of the EAEU.
GRATA International banking and finance team is pleased to provide you with a brief summary of the major changes to the legislation of the Republic of Kazakhstan in 2019 that may affect your business
On 30 December 2019 the Republic of Kazakhstan has ratified the Convention on avoidance of double taxation with Cyprus and the Protocol thereto (hereinafter – the ‘Convention’).
The number of large infrastructure projects steadily grows in Kazakhstan. Potential investors and the State are looking for finance sources to implement the projects. On one hand, in many cases, in view of the amount of financing, international financial organisations are the most likely funding source. On the other hand, international financial organisations themselves often have an interest in project financing in Kazakhstan.
As you may know, the Agreement for Labelling Goods with Means of Identification in the Eurasian Economic Union (hereinafter - the 'Agreement') entered into force. Pursuant to the Agreement, an obligatory labelling of goods with machine-readable and mutually readable marks in the territory of the Union is introduced in the EAEU countries.
Disputes between importers and customs authorities are complex cases. The implementation of electronic declaring and a risk management control system, as well as a change in the approach of customs control led to an increase in customs audits of participants of foreign economic activity, and, consequently, to an increase in the number of customs disputes.
The sale and purchase of oil and gas or mining companies are one of the most complex transactions. There are many nuances in checking the acquired asset, obtaining transaction permits from state authorities, and taxation aspects. The article outlines the main practical tips for committing such transactions in Kazakhstan.