Domestic gas market regulatory reform
On 26 January 2021 Kazakhstan’s President, Kassym-Jomart Tokayev, held an Extended Session of the Government at which he stated that the domestic natural gas market is still over-regulated, which hinders increasing the resource base, investment in geological exploration, and construction of gas processing facilities.
Special Retail Tax Regime of 3%
From 1 January 2021, a number of changes provided for by the Law come into force. Thus, a new Chapter 77-1 of the Tax Code entered into force, which contains provisions on the application of the special retail tax regime (SRTR), which will be an alternative to CIT or IIT for businessmen.
Investment Tax Credit
On 1 January 2021, a number of changes in the tax legislation came into force , which are aimed at improving the investment climate. One of thу important changes is the introduction of provisions on an investment tax credit granted to taxpayers (hereinafter - the ‘ITC’).
This is to inform you that on 19 December 2020, the Law of the Republic of Kazakhstan ‘On the Introduction of the Amendments to Some Legislative Acts of the Republic of Kazakhstan on outstaffing services’ (hereinafter – the ‘Law’). Pursuant to the Law, the Labour Code of the Republic of Kazakhstan
Mining 2021: Kazakhstan
According to the latest official statistics, the "mining and quarrying" sector (excluding the production of oil and gas) plays an important role in the Kazakh economy, with a contribution of 4.9% to the country’s GDP based upon the results of 2019.
Energy law and regulation in Kazakhstan
Kazakhstan is the largest economy in Central Asia and home to more than 18 million people. As a country rich in coal, oil, natural gas and uranium, Kazakhstan’s economic focus remains firmly on its industrial sector and the extraction and processing of its natural resources. There is also enormous potential for renewable energy in Kazakhstan, particularly from wind and small hydropower plan.
Alert on the amendments in the Customs Code of the Republic of Kazakhstan
In January of this year a number of amendments was introduced into the Code of the Republic of Kazakhstan ‘On customs regulation in the Republic of Kazakhstan’ (hereinafter – the ‘Customs Code’). The most important of them were brought into effect from 16 January 2021. Please see below the detailed information on the introduced amendments.
This article covers such sensitive topic as tax exemption of dividends distributed by a Kazakh company in address of its foreign shareholders (participants). In particular, the recent tendency in the approach of the Kazakh tax authorities adopted in this regard.
Alert. Agreement on Pension Coverage for Employees of the EEU Member States
On 1 January 2021, the Agreement on Pension Coverage of Employees of the Eurasian Economic Union Member States, ratified by the Republic of Kazakhstan on 7 December 2020 (hereinafter - “Agreement”), entered into force.
Reformation of the Gas Market in Kazakhstan: Major Problems and Legal Aspects
This article examines the key problems domestic gas market in Kazakhstan faces right now and analyses, among other issues, current and future gas market designs as well as third-party access (TPA), unbundling, gas pricing and pipeline tariff setting regulation.