Changes in Russian Banking Law:
Universal Banks and Banks with a
Basic License
On 1 June 2017, the Federal Law No. 92-FZ dated 1 May 2017 came into force that, in particular, established two categories of Russian banks depending of a list of permitted operations: banks with a universal license and banks with a basic license, as well as provided for new requirements for the minimum amount of the charter capital of credit institutions.
Tax and customs benefits for
EXPO-2017 participants
The Agreement on benefits and exemptions for official participants connected with performance of the International specialized exhibition EXPO-2017 in Astana[1], the Rules on performance of tax obligations by persons entitled to benefits and exemptions in accordance with the Agreement[2], effective 17 June 2017, as well as the Rules on application of special customs procedure[3] provide for separate tax and customs regimes for EXPO-2017 participants.
Russia lifts several sanctions
against Turkey
The Decree No. 244 dated 31 May 2017 of the President of Russian Federation abrogated the following economic measures against Turkey
Legislation of the Republic of
Kazakhstan on Support for Use of
Renewable Energy Sources
In Strategic Development Plan of the Republic of Kazakhstan until 2020, it is noted that one of the directions for successful diversification of the economy is the introduction of modern technologies based on renewable resources and energy sources.
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[1] 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’.