Category Archives: Tax & Investments

VAT Deregistration of taxpayers

VAT deregistration of taxpayers (legal entities) in which CEO or sole participant are foreign individuals

Sub –clause 8, clause 4, article 571, the Tax Code of the Republic of Kazakhstan (the “Tax Code”), came into force on 1 July 2015. Continue reading

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Investment grants

As is known this summer dramatical changes were made into the laws on investments in frames of increase of investment attractiveness of the state.

One of key changes for attraction of investors is so called investment subsidies, which imply compensation of 30% of factual expenditures associated with construction and purchase of equipment within the project.

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Administrative barriers restricting business development (continuation)

Following up upon administrative barriers restricting business development, we offer to consider following cases from our practice.

  1. Licensing

Dealing with the cases on the licenses in construction sphere, we can provide following example, which demonstrate vague provisions regulating the license issues in Kazakhstan.  Well, in case of obtainment the license in construction sphere (for design works or for installation and civil works)applicant shall meet the qualification requirement on presence of minimal material and technical equipment.  The matter is interpretation of the word “minimal”, who determinates minimal rate and quantity.  In other words, negative circumstances for applicants like rejection in issuance of the license happened due to inaccurate wording of legislation acts.

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Improvement of Investment Climate of the Republic of Kazakhstan in Light of the Last Amendments of 12 June 2014

On the 12th  day of June 2014 Kazakhstan President N. Nazarbayev signed into Law of the Republic of Kazakhstan “On amendments and supplements into the legal acts of the Republic of Kazakhstan pertaining to the improvement of investments climate ( the “Law”), by virtue of which, the following legal acts of the Republic of Kazakhstan should be amended:

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Bringing to criminal liability of officials of organizations for tax evasion

We propose to consider the possibility of adoption by the Supreme Court of the Republic of Kazakhstan a Regulatory Resolution “On some issues of application by courts the legislation on criminal liability of officials of organizations for evasion of taxes and other obligatory payments to the budget”.

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The Investment Ombudsman Institution in Kazakhstan

Over past years, Kazakhstan has been ameliorating the investment climate through development of instruments of state support stimulation of investments and protection of foreign investors.

The main legal act regulating activity of foreign investors in Kazakhstan is the Law on Investments, according to which, the purpose of state support of investments is in ensuring of a favourable climate for economic development and investment stimulation for creation of new production, extension and modernisation of current manufactures while applying cutting-edge technologies.

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