Changes in the Russian Currency Law: Repatriation of Currency Proceeds
On 29 July 2018 several Federals Laws were signed off amending the Federal Law 'On Currency Regulation and Currency Control' as follows:
Astana International Financial Centre's Law - what is it about?
Modeled on the Dubai International Financial Centre, the Astana International Financial Centre (AIFC) was officially launched on the 5th July this year, established with the aim of bridging the gap between the world’s major financial centers and a regional gateway for capital and investments.
By the end of June of this year Kazakhstan signed the Multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI).
Customs duties for certain goods originating from the United States are increased in Russia
On 23 March 2018, the United States of America introduced a special protective measure in the form of increased customs duties on imports for steel and aluminium products, including those originating from the Russian Federation.
The law on Russia’s counter- sanctions against the USA and other states came into force
On 4 June 2018, the Federal Law 'On the Measures (Countermeasures) in Response to Unfriendly Actions of the USA and(or) other Foreign States' (hereinafter - the 'Law') was published and came into force.
Simplification of the procedure for state registration of medicines in Russia
On 17 May 2018, amendments to the Federal Law 'On the Circulation of Medicines' (hereinafter - the 'Draft Law'), which simplify the procedure for registration of medicinal products for foreign manufacturers of medicines, were adopted in the third final reading.