This CLIENT UPDATE includes amendments and additions to the legislation of the Republic of Kazakhstan (”RK”) from 1 January through 28 February 2015.
The legislation outlined in this Client Update concerns both public and private sectors. Some of them may be of interest to you as it may affect your business in Kazakhstan in certain way.
This month we would like to draw your attention to the following legal acts:
LAW ON STATE YOUTH POLICY
1) On 9 February 2015, the President of the RK signed the Law on State Youth Policy.
This Law introduces the new concept, the (so-)called “young specialist”, i.e. a citizen of the Republic of Kazakhstan under twenty nine years old having mastered educational training programs in the organizations of technical and vocational, postsecondary, higher and postgraduate education and worked for no more than three years by occupation (as indicated in the degree certificate).
This Law also introduces a number of amendments into the Labor Code of the RK (“LC”). Labor contract with a young specialist may be now concluded for no less than two years. However, this requirement is subject to the following exceptions:
• Employment for a specific job;
• Replacement of a temporarily absent employee;
• Employment for seasonal work;
• Employment period under the work permit issued by the local authority or permission issued to the labor migrant by the interior officer.
This Law came into legal force on 19 February 2015.
LAW ON NATURAL MONOPOLIES
1) On 18 February 2015, the Mazhilis of the Parliament of RK approved the Draft Law on Changes and Amendments into Certain Legislative Acts of the RK on Natural Monopolies and Regulated Markets.
The Draft Law introduces a number of amendments in regulation of natural monopoly activities. The major novelty of this Draft Law is pricing change in the sphere of electric energy natural monopoly. The Draft Law proposes to hold public hearings when examining the price of the regulated market’s entity in the sphere of electric energy. An authorized agency will approve tarrifs based on the outcome of public hearings.
AGREEMENT ON ELIMINATION OF TECHNICAL BARRIERS IN TRADE WITH THE STATES OF THE CUSTOMS UNION (“CU”) AND THE MEMBER STATES OF THE COMMONWEALTH OF INDEPENDENTSTATES (“CIS”) – NON-MEMBERS OF THE CU
1) On 28 January 2015, the Mazhilis of the Parliament of the RK approved the Law on Ratification of the Agreement of the Member States of the Customs Union on the Elimination of Technical Barriers in Trade with the CIS Member States (“CIS states”) – Non-Member States of the Customs Union” (“Agreement”).
This Agreement is aimed at:
• defining the procedure and conditions for CIS countries accession to the technical regulations of the CU;
• eliminating technical barriers in the trade industry between CIS countries and CU member states.
1) On 15 January 2015, the Senate of the Parliament of the RK approved the Draft Law on Ratification of the Agreement between the Government of the RK and the State of Qatar on Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income and the Protocol thereto”.
2) On 28 January 2015, the Mazhilis of the Parliament of the RK approved the Draft Law on Ratification of the Agreement between the Government of the RK and the Republic of Macedonia on Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income.
Information contained in this Client Update is of general nature and cannot be used as legal advice or recommendation. Please seek a lawyer for a specific advice. Please note that Kazakhstan is an emerging economy and its legislation and legal system are in constant development. Should you have any questions or would like to discuss matters addressed in this Client Update, please contact us.