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VAT refund procedure legal update
Regulation for refund of value added tax (“VAT”) paid by individuals, who are consumers, for goods (except for oil and gas products) purchased from persons engaged in retail trade or public catering in the territory of the Republic of Azerbaijan (“Regulation”) has been adopted by the Decree of the President of the Republic of Azerbaijan dated March 21, 2020.
Cancellation of apostilisation requirement in respect of tax residence certificates issued by Armenia and Kazakhstan
Please be informed that Kazakhstan and Armenia agreed on cancellation of apostilisation requirement in respect of documents confirming tax residence.
31.03.2020
Measures to support taxpayers in view of imposing Higher Level of Readiness in Mongolia
At irregular meeting on 27 March 2020, the Government Cabinet approved a resolution to implement following measures to support the taxpayers during higher level of readiness due to spread of Covid19 in Mongolia
Additional measures to support taxpayers in a view of imposing the state of emergency in Kazakhstan
On 27 March 2020 under the adopted Resolution the Government of the Republic of Kazakhstan took additional measures to support taxpayers in view of the state of emergency in the country
Measures to support participants in foreign economic activity in connection with the declaration of the state of emergency in Kazakhstan
In connection with the declaration of the state of emergency in Kazakhstan, the Government has been taken the measures regarding customs regulation
New EAEU Decisions Adopted in Connection with the Distribution of COVID-19
On 27 March 2020 the Eurasian Economic College and Council adopted the decisions in connection with the distribution of COVID-19
Pandemic, taxes and bankruptcy in Russia. What to expect and what to get ready for?
The rapid spread of the new COVID-19 virus on the planet makes the government develop measures not only to combat the spread of its manifestations in the sanitary and epidemiological area but also prevent its negative impact on the economic and social aspects in the society.
Measures to support taxpayers in a view of imposing the state of emergency in Kazakhstan
In addition to the previous review please be informed that on 21 March 2020 was published the Decree of the Republic of Kazakhstan dated 20 March 2020 No.126 «On measures to implement the Decree of the President of the Republic of Kazakhstan dated March 16, 2020 No. 287»
Measures to support taxpayers in a view of imposing the state of emergency in Kazakhstan
In a view of imposing the state of emergency in the country from 16 March to 15 April 2020 on 17 March 2020 the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan announced that the following measures have been taken to support taxpayers for this period.
Enactment of the new rules on issue of accompanying notes is postponed until 1 July 2020
As follows from our previous alert, the new rules on issue and circulation of accompanying notes in respect of goods were published on 31 December 2019. According to these rules the biofuel suppliers would have been obliged to issue the accompanying notes effective 1 January 2020.
Practical aspects of application of the Multilateral Instrument in Kazakhstan
On February 6, 2020, the Parliament of Kazakhstan ratified the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (“MLI”). Provided that the President of Kazakhstan signs the law on ratification in 2020, it is expected that the MLI’s provisions on withholding taxation will become effective from January 1, 2021.
Doing Business in Mongolia
Tremendous mineral reserves, agricultural endowments, and proximity to Asia’s vast markets make Mongolia an attractive destination for medium- to long-term foreign direct investment (FDI).