Clarification of the State revenue committee on refund procedure of excess value added tax within the framework of risk management system
Please be informed that the State revenue committee of the Ministry of Finance of the Republic of Kazakhstan (hereinafter – the ‘Committee’) provided a clarification in its Letter on refund procedure of excess value added tax (hereinafter – ‘VAT’) within the framework of risk management system (hereinafter – ‘RMS’).
Client note: Main changes in the customs law of Kazakhstan
The Decision No. 46 dated 11 May 2017 of the College of the Eurasian economic union introduced changes to the ‘Procedure of introduction of amendments and (or) additions to the declaration on goods’.
Google paid a fine for the violation of antitrust law in Russia
The trial that lasted over two years in connection with the violation by Google of Russian antitrust law resulted in the conclusion in April 2017 of a settlement agreement with the Federal Antimonopoly Service (FAS Russia).
International Comparative Legal Guide to: Data Protection 2017 - Russia
GRATA International Moscow office experts became the contributors of the 2017 edition of The International Comparative Legal Guide to: Data Protection published by Global Legal Group Ltd, London
Сentral Bank of Russia established the threshold values for interested party transactions
On 13 May 2017, the Direction of the Central Bank of the Russian Federation No. 4335-U dated 31 March 2017 came into force that establishes the threshold values for transactions of joint stock companies and limited liability companies, in the event of excess of which the transactions the price or book value of the property being the subject matter of which does not exceed 0.1% of the book value of the companies' assets may be deemed interested party transactions.
Kazakhstan and the Belt and Road
Kazakhstan has high ambitions in the China’s Belt and Road initiative, as it is geographically an ideal junction between China and the West and its interest in the Belt and Road is indisputable, with the Kazakh government already involved in Nurly Zhol (the Path of Light), a US$9 billion domestic economic stimulus plan to develop and modernize roads, railways, etc.