Нийтлэл

GRATA International Kazakhstan contributed to the The Law Review legal guide series - The Technology, Media & Telecommunications Review 2017 with the chapter on Kazakhstan.

Though Kazakhstan adopted relevant legislation for domestic (such as the governed Kazakh law) Islamic banking transactions more than seven years ago and has a Muslim population of over 11 million, Islamic finance is still in the early stages of its development and Islamic products are rarely used. м

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 dated 29 March 2017 No. КГД-08-2-17021-КГД-7951 regarding issue of electronic invoices prior to enactment of the respective law (hereinafter – the ‘Law’).

The Republic of Kazakhstan (“RoK”) wishes to change its subsoil use legislation and replace the current Law on Subsoil and Subsoil Use dated 24 June 2010 (the “Law”) by a new Code on Subsoil and Subsoil Use (the “Code”).

Kazakhstan has high ambitions in OBOR as it is geographically an ideal junction between China and the West and its interest in OBOR is indisputable – with Kazakh government already being involved in Nurly Zhol (Path of Light), a $9 billion domestic economic stimulus plan to develop and modernize roads, railways, etc.

As of today, the Treaty on the Customs Code of the Eurasian Economic Union (hereinafter – the ‘EAEU Customs Code’) is in process of signing. It is expected that the document will come into force not earlier than 29 December 2017.

Please be informed that the State revenue committee of the Ministry of Finance of the Republic of Kazakhstan (hereinafter – the ‘SRC’) clarified in its letter dated 7 March 2017 No. КГД-06-3-11411-КГД-5981 that an electronic invoice (hereinafter – ‘EI’) may be signed by one of the participants of EI information system (hereinafter – ‘EIIS’): either by (i) a head of the company or by (ii) an authorized person on the basis of an electronic power of attorney (hereinafter – ‘PoA) issued by the company and signed with its electronic signature. I.e., it is not required to sign the same EI by both the head and the chief accountant of the company.

Shaimerden Chikanayev, Partner of GRATA International law firm made comments to the national newspaper "Kazpravda" on the development of the PPP projects market in Kazakhstan.

Please be informed that the State revenue committee of the Ministry of Finance of the Republic of Kazakhstan (hereinafter – the ‘SRC’) clarified in its letter dated 13 March 2017 No. КГД-08-3-13036-КГД-6468 that the Kazakh exporter is obliged to provide the tax authorities with an application on import of goods and payment of indirect taxes submitted along with VAT declaration and received from the importer in case of export of goods to the member-states of the Eurasian economic union (the EAEU).

Please be informed that the State revenue committee of the Ministry of Finance of the Republic of Kazakhstan (hereinafter – the ‘SRC’) clarified in its letter dated 30 January 2017 No. КГД-07-1-3343-КГД-2247 that a Kazakh company is obliged to declare income and expenses of its foreign branch in the declaration on corporate income tax (hereinafter – ‘CIT’).