Legislative News
The present Client Update includes innovations in legislation and key appointments in March 2009.
The following documents were adopted in March 2009:
•\tLaws of the Republic of Kazakhstan – 5;
•\tDecrees of the President of the Republic of Kazakhstan – 9;
•\tResolutions of the Government of the Republic of Kazakhstan – 117 (6 of which have not been enacted;
•\tOther regulatory legal acts.
Among new legal acts, there are some legal documents that can attract your attention and have certain impact on your business in Kazakhstan.
We would like to draw your attention to the following regulatory legal acts:
Resolution of the Government of the RK No. 240 “On Approval of List of Legal Entities, One Hundred Percent of Voting Shares of Which Belongs to the National Holding Company, Turnovers of Which on Implementation of Borrowing in Money Terms Under Terms of Payment Interest, Definite Period and Repayment are Exempted From Value Added Tax” dated 3 March 2009
In accordance with the Resolution list of legal entities, 100% of voting shares of which belongs to Samruk-Kazyna National Welfare Fund, has been determined. This list includes: (1) Kazakhstan Development Bank Joint-Stock Company, (2) Damu Entrepreneurship Development Fund Joint-Stock.
Resolution of the Government of the Republic of Kazakhstan No. 238 “On Approval of Rules of Pricing in Regulated Markets” dated 3 March 2009
In accordance with Resolution rules of pricing on goods (works, services) and production included into special list established by the Government of the RK have been approved in respect of regulated market participants.
Resolution of the Government of the Republic of Kazakhstan dated 20 March 2009 No. 366 “On Approval of List of Organizations, Procurement of Goods, Works and Services of which is Subject to Kazakhstani Content Monitoring”
In execution of Decree of the President of the RK dated 27 January 2009 No. 733 «On Some Issues of Kazakhstani Content upon Procurement of Goods, Works and Services Purchased by Organizations and State Bodies » Government of the RK approved list of organizations, procurement of goods, works and services of which is subject to monitoring on kazakhstani content. At present, this list includes about 100 kazakhstani companies.
Resolution of the Government of the Republic of Kazakhstan dated 20 March 2009 No. 367 «On Approval of Methodology of Calculation of Kazakhstani Content upon Procurement of Goods, Works and Services by Organizations»
In accordance with this Resolution Government approved Uniform Calculation Procedure of Kazakhstani Content upon Procurement of Goods, Works and Services by Organizations. Uniform procedure is intended for calculation of kazakhstani content upon procurement of goods, works and services. Calculation of kazakhstani content in the goods supply contract is made in accordance with the established formula.
Resolution of the Government of the Republic of Kazakhstan dated 16 March 2009 No. 332 «On Approval of Rules of Determination of Property Interest of a Person (Persons) that is Subsoil User (Subsoil Users) in Value of Charter Capital (Equity) or Shares (Equity Shares) of Legal Entity or Consortium on the Date of Sale of Shares (Equity Shares)»
In execution of provisions of new Tax Code Government approved rules of determination of property share of subsoil user, shares (equity shares) in which belong to legal entity (consortium) that has intention to sell its shares (equity shares).
Property interest of subsoil user is determined as the ratio of amount of subsoil user’s property value to total value of assets of legal entity that has intention to sell its shares (equity shares). At that, subsoil user’s property value is recognized as book value of interest or shares subject to legal form of organization, while total assets of legal entity are recognized as amount of book value of all assets of such legal entity.
Resolution of the Government of the Republic of Kazakhstan dated 12 March 2009 No. 293 «On Approval of List of Goods (Works and Services), International Business Transactions on Which are Subject to Transactions Monitoring»
This Resolution approves list of goods (works, services), international business transactions on which are subject to transactions monitoring. This list includes: oil, nonferrous metals, ferrous metals, precious metals, uranium, cotton, marketing services, equipment installation, etc.
Resolution of the Government of the Republic of Kazakhstan dated 10 March 2009 No. 275 «On Establishment of Anti-Crisis Council»
In accordance with this Resolution it was decided to establish Anti-Crisis Council and provision on Anti-Crisis Council was approved. Main task of this anti-crisis council is control over implementation of government program of anti-crisis measures.
Resolution of the Government of the Republic of Kazakhstan dated 12 March 2009 No. 292 «On Approval of List of Authorized Information Sources of Market Prices»
In accordance with this Resolution Government approved list of authorized information sources of market prices. This list includes Kazakhstani as well as international publications.
International Law
In accordance with Law of the RK ¹ 143-IV dated 21 March 2009 RK ratified Agreement between Government of the Republic of Kazakhstan and Government of the Russian Federation on cooperation in the sphere of sea transport.
In accordance with Law of the RK ¹ 142-IV dated 21 March 2009 RK ratified agreement on application of special protective, anti-dumping and countervailing measures with regard to third countries.
Draft Laws
Also we would like to draw your attention to additional information on forthcoming legislative acts.
Brief on Draft Law of the Republic of Kazakhstan «On Use of Nuclear Energy»
This draft law establishes legal basis and principles of regulation of relations in the sphere of nuclear energy use for peaceful purposes. Highlights of this draft law are as follows:
•\tOwners of objects of nuclear energy use (radioactive materials, waste materials, installations, etc.) can be state as well as private legal entities;
•\tctivity on nuclear energy use is subject to licensing;
•\tNuclear, radiation, nuclear-physic safety is subject to state expertise;
•\tExport and import of goods and services in the sphere of nuclear energy use is subject to additional control by authorized state body;
•\tSpecial procedure of handling and decommissioning of spent nuclear fuel and radioactive waste.
Please, note that it is only draft document.
On Amendments to Some Legislative Acts of the Republic of Kazakhstan on Issues of Currency Regulation and Currency Control».
Draft Law was approved by the Lower House of Parliament. Draft law was elaborated for further improvement of currency regulation and currency control system in Kazakhstan.
Draft law introduces amendments to the Criminal Code, Code of Administrative Violations, Law of the RK “On Currency Regulation and Currency Control», «On National Bank of the Republic of Kazakhstan», «On Licensing».
Introduced amendments aim at simplification of procedures on currency regulation regimes and on repatriation of national and foreign currency.
Please, note that it is only draft document.
«On Anti-Money Laundering and Anti-Terrorist Financing»
Draft Law was approved by the Lower House of Parliament. This draft law establishes legal conditions preventing laundering of proceeds;
Please, note that it is only draft document.
KEY APPOINTMENTS:
1) Shukeyev Umirzak Estayevich was appointed to the position of First Deputy Prime Minister of the RK;
2) Akhmetov Serik Nygmetuly was appointed to the position of Deputy Prime Minister of the RK;
3) Ashimov Nurgali Sadvakasovich was appointed to the position of Minister of Environmental Protection of the RK;
4) Kusainov Abelgazi Kaliakparovich was appointed to the position of Minister of Transport and Communications of the RK;
5) Saparbayev Berdibek Mashbekovich was appointed to the position of of East Kazakhstan Oblast;
6) Myrzakhmetov Askar Isabekovich was appointed to the position of Akim of South-Kazakhstan Oblast.
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.
