Legislative News

LEGISLATION NEWS

There were approved 185 legal documents in September 2008, including:

• Laws of the Republic of Kazakhstan – 2;

• Decrees of the Government of the Republic of Kazakhstan – 34.

The most of them are concerning the public sphere and criminal proceedings, but there are also some of them which may attract your attention and have an influence on your business activity in Kazakhstan.

We would like to draw your attention to the following legal documents:

1) The Decree of the Government of the Republic of Kazakhstan as of 29 August 2008 On insertion of the amendments and supplements to the Decree # 1036 of the Government of the Republic of Kazakhstan

By passing this Decree, the legislator has amended rates of export custom duties for crude oil and the goods produced from oil exported from tax territory of Kazakhstan, notably, the following export custom duties were increased:

• For crude oil – from 109,91 till 203,8 USD per ton;

• For slide, medium and heavy distillates – from 123,3 till 168,7 USD per ton;

• For coke products – from 82,2 till 112,5 USD per ton.

2) The Decree of the Government of the Republic of Kazakhstan as of 19 September 2008 On approving the Complex plan concerning the problems of social-economic development of Zhanaozen city, Mangistau oblast

The Government considers the opportunity to construct oil refinery in the region as well as organize the system of technical centers for rendering services mostly to oil and gas companies and promote hiring the local employees by oil and gas companies.

3) Explanatory Note on draft of the Budget Code of the Republic of Kazakhstan in a new wording as of 1 of September 2008

This document presents draft of the Budget Code of the Republic of Kazakhstan in a new wording. It describes forming of the National Fund for the purposes of provision with stable social-economic development of the state. The contributions to this Fund shall be mainly made by organizations of oil and gas sector in the capacity of direct taxes and from oil operations (except those which go to the local budgets).

  • Please take into account that it is draft only.

• The Order of the Minister of Justice of the Republic of Kazakhstan as of 28 August 2008 On insertion of the amendments and supplements to the Decree as of 12 April 2007 # 112 concerning the Instruction on state registration of legal entities and registration of branch and representative offices

This legal act amended terms of registration process. It divides the terms of registration process between the small entrepreneurship legal entities as well as medium scale and large entrepreneurship legal entities:

• Registration (re-registration) of the small entrepreneurship legal entities – not later than 3 (three) working days after submitting of all required documents;

• Registration (re-registration) of the medium scale and large entrepreneurship legal entities acting on the basis of model charter – not later than 3 (three) working days after submitting of all required documents;

• Registration (re-registration) of the other legal entities – not later than 10 (ten) working days after submitting of all required documents.

As you see, September was not very active on the introduced legal acts related to the different businesses. We will keep you updated on further developments.

We do hope that this information will be useful for you.

Best regards,

Signum Team

Information contained in this Client Update is of general nature and cannot be used as legal advice or recommendation. Please seek for a specific advice in relation to any questions. Please note that Kazakhstan and Turkmenistan are emerging economies and their legislation and legal systems are in constant development. Should you have any questions or would like to discuss subjects addressed in this Client Update please contact us.