This CLIENT UPDATE includes amendments to the legislation of the Republic of Kazakhstan in 2010.
The following 180 regulatory legal acts were adopted in November 2010:
•\tLaws – 11;
•\tDecrees of the President of the Republic of Kazakhstan – 4;
•\tResolutions of the Government of the Republic of Kazakhstan – 94;
•\tand other regulatory legal acts.
Most of these regulatory legal acts are concerning public sector, but among them there are some which may attract your attention and affect your business in Kazakhstan in a certain way.
We would like to draw your attention to the following regulatory legal acts:
Decree of the Government of the Republic of Kazakhstan dated 12 November 2010 No. 1197 “On the Draft of the Decree of the President of the Republic of Kazakhstan on signing of the Agreement on Unilateral Principles and Regulations of Technical Regulations in the Republics of Belorussia, Kazakhstan and Russian Federation”.
According to the draft, the parties to the Agreement maintain the consistent policy in the field of technical regulation; all the technical regulations of the Customs Union have direct application on the customs territory of the Customs Union.
The parties shall also provide the circulation of the production which which meets all the requirements of technical regulations on their territories without bringing any additional requirements and maintaining any additional procedures on assessment/confirmation.
Decree of the Government of the Republic of Kazakhstan dated 8 November 2010 No. 1174 “On approval of the Regulations on obtainment of permits for gas flaring”
The regulations on obtainment of the permits for gas flaring were developed in accordance with the Law of the Republic of Kazakhstan dated 24 June 2010 “On subsurface and subsurface use”, the Law of the Republic of Kazakhstan dated 5 July 1996 “On emergency situations of natural and industrial characters” and Ecological Code of the Republic of Kazakhstan.
The permit for gas flaring is issued by the competent body in oil and gas sphere subject to an approval with competent authorities on investigation of mineral resources, protection of environment and industrial safety. The issuance of such permit takes place in 30 working days since all the required documents are submitted in.
Draft of the list of the large scale tax payers subject to monitoring (Explanatory note to the draft of the Governmental Decree “On approval of the list of the large scale tax payers subject to monitoring”)
In accordance with the item 3 of Article 623 of the Code of the Republic of Kazakhstan dated 10 December 2008 “On taxes and other mandatory payments to the budget”, the Government of the Republic of Kazakhstan decided to approve the list of the large scale tax payers subject to monitoring.
The main target of approving the present Governmental decree is to determine the large scale tax payers subject to monitoring, that is to determine their real tax base, control of compliance to tax legislation of the Republic of Kazakhstan and market prices applicable at transfer pricing.
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.