Legislative News

This CLIENT UPDATE includes amendments and additions to the legislation of the Republic of Kazakhstan (“RK”) in January 2014.

The legislation outlined in this Client Update concern 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:

NATIONAL CHAMBER OF ENTREPRENEURS

1) The Decree of the Government of RK dated 31 December 2013 No. 1569 set thresholds for compulsory membership fees to the National Chamber of Entrepreneurs of Kazakhstan.

Pursuant to the Decree, the threshold for compulsory membership fee is 160 monthly calculation index (“MCI”) for entrepreneurs with total annual income above 60,000 MCI and not exceeding 1,500,000 MCI. For entrepreneurs with total annual income exceeding 1,500,000 MCI, the threshold for compulsory membership fee is 4,400 MCI.

Just to recap, the 2014 MCI rate is 1,852 KZT.

The Decree came into force on 21 January 2014.

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.