Legislative News. July-August 2016

This Client Update covers the key amendments to the laws of the Republic of Kazakhstan ("RK") and various legal developments introduced in July and August 2016.

NOVELTIES IN LEGISLATION

The laws covered by the present Client Update relate to both public and private sectors. Some of them may be of interest to you as they may affect your business activity in Kazakhstan. We would like to draw your attention to the following legal acts.

INTERNATIONAL TREATIES

Convention with the Kingdom of Saudi Arabia On Avoidance of Double Taxation and Prevention of Tax Evasion on Income Tax

On 1 July 2016, the President of the RK ratified the Convention between the Government of the Republic of Kazakhstan and the Government of the Kingdom of Saudi Arabia on Avoidance of Double Taxation and Prevention of Tax Evasion on Income Tax.

The Protocol to the Convention was signed on 7 June 2011 in Astana.

Importation and circulation of goods on the customs territory of the EAEC

On 12 August 2016, the Eurasian Intergovernmental Council adopted the Resolution № 5 "On Certain Issues of Importation and Circulation of Goods on the Customs Territory of the Eurasian Economic Union Due to Accession of the Republic of Kazakhstan to the World Trade Organization".

The Resolution recognizes a hard copy of an electronic invoice registered in the national accounting system of the RK as a consignment document in case goods move from the territory of the RK to the territory of other EAEC member- states provided such goods are included into the list of goods with lower import duties compared to the rates of EAEC Unified customs tariffs except for the conditionally released goods.

A hard copy of an electronic invoice must be sealed by territorial tax authority of the RK.

PRESIDENTIAL DECREES

Moratorium of certain provisions of the land laws

On 18 August 2016, the President of the RK signed the Decree № 308 "On Introduction of Amendments into Decree of the President of the Republic of Kazakhstan dated 6 May 2016 № 248 "On Moratorium on Application of Certain Provisions of the Land Legislation".

Moratorium has been prolonged for 5 years till 31 December 2021.

Moratorium applies to the following statutory provisions:

temporary land use right for a period of up to 25 years for repatriates, foreigners, stateless persons, foreign legal entities, as well as legal entities more than fifty percent of shares in the authorized capital of which are owned by foreigners, stateless persons, foreign...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT