Publications

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

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’).

The number of large infrastructure projects steadily grows in Kazakhstan. Potential investors and the State are looking for finance sources to implement the projects. On one hand, in many cases, in view of the amount of financing, international financial organisations are the most likely funding source. On the other hand, international financial organisations themselves often have an interest in project financing in Kazakhstan.

As you may know, the Agreement for Labelling Goods with Means of Identification in the Eurasian Economic Union (hereinafter - the 'Agreement') entered into force. Pursuant to the Agreement, an obligatory labelling of goods with machine-readable and mutually readable marks in the territory of the Union is introduced in the EAEU countries.

Disputes between importers and customs authorities are complex cases. The implementation of electronic declaring and a risk management control system, as well as a change in the approach of customs control led to an increase in customs audits of participants of foreign economic activity, and, consequently, to an increase in the number of customs disputes.

The sale and purchase of oil and gas or mining companies are one of the most complex transactions. There are many nuances in checking the acquired asset, obtaining transaction permits from state authorities, and taxation aspects. The article outlines the main practical tips for committing such transactions in Kazakhstan.

As of 1 October 2019, 610 public-private partnerships agreements worth 1.5 billion tenge (about 3.8 million US dollars) have been executed in Kazakhstan. While PPP remains one of the areas of great interest to both Kazakhstani state authorities and prospective investors, it seems that the Government of Kazakhstan has decided to change its policy in relation to PPPs by shifting focus from quantity to quality of PPP projects to be implemented in Kazakhstan. 

The Government of the Republic of Kazakhstan (‘Kazakhstan’) is considering the draft law on the introduction of amendments to the tax laws.

In this article we have tried to analyse the court practice in application of legislation in the realm of intellectual property, particularly in respect to trademarks, trade names and patents.

There is no doubt that Kazakhstan needs new economic drivers to facilitate the launch of innovative new businesses, to disrupt conventional industries and to transform intellectual capital into innovative start-ups.