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.
16.03.2020
On 15 March 2020, the President of Kazakhstan (“RK”), K.K. Tokayev, signed a decree introducing state of emergency in Kazakhstan (“SE”) from 16 March to 15 April 2020. The decree is likely to cause contractual defaults, termination of contracts, sanctions, losses and litigation/arbitration in Kazakhstan and possibly abroad.
16.03.2020
Due to the current situation with COVID-19, GRATA International is imposing temporary restrictions on overseas business trips for our staff and asking that they work from home.
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.
Legal Framework for Insolvencies in Uzbekistan
Despite being relatively new, the current bankruptcy law in Uzbekistan (initially adopted in early 1990s) has improved drastically over the last decades. Uzbekistani insolvency regime, that was upgraded significantly throughout the several redrafts of the law, is still undergoing some changes that are being introduced as a part of its ambitious market-oriented economic reforms.
On State Registration of Legal Entities and Account Registration of Branches and Representative Offices
The Law of the Republic of Kazakhstan "On Introduction of Amendments to Certain Legislative Acts of the Republic of Kazakhstan on the Matters Related to Provision of Public Services" No. 272-VI was adopted on 25 November 2019. This piece of legislation, among other things, introduces amendments to the Law of the Republic of Kazakhstan "On State Registration of Legal Entities and Account Registration of Branches and Representative Offices" No.2198 dated 17 April 1995 (the "Law"). These amendments were put into effect on 8 December 2019. Below we list the most critical amendments: