Draft of the new Environmental Code of Republic of Kazakhstan: key points for entrepreneurs
The Parliament of the Republic of Kazakhstan is currently considering a draft of the new Environmental Code (hereinafter - the 'Draft Code') developed by the Government of the Republic of Kazakhstan under the instruction of the President of the Republic of Kazakhstan.
On the Decision of the Eurasian Economic Commission about provision of documents confirming the origin of cash
The Decision of the Board of the Eurasian Economic Commission dated 6 August 2019 No. 130 On provision of documents confirming the origin of cash and (or) cash instruments (hereinafter – ‘Decision’) came into effect on 4 February 2020.
Kazakhstan adopted relevant legislation for domestic Islamic banking transaction such as the governed Kazakh law more than ten years ago and established the Astana International Financial Center (AIFC) based on the Dubai International Financial Center’s model three years ago, Islamic finance is still in the early stages of its development and Islamic products are rarely used.
Legal review of the main developments in the pharmaceuticals regulations of Kazakhstan
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.
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.
Changes to the list of WTO exemptions
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
Kazakhstan has ratified the Convention on avoidance of double taxation with Cyprus
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’).