Morgan Lewis (JD Supra Kazakhstan)

The president of the Republic of Kazakhstan signed Law No. 399-VI, On Amendments into Certain Labour-Related Legislative Acts of the Republic of Kazakhstan (the Amendment Law), on January 2, 2021.

The Kazakhstan Tax Code may change so that controlled foreign corporation rules will not apply to foreign persons that are residents of countries having a double tax treaty with Kazakhstan. Kazakhstan residents (both individuals and legal entities) may own shares in foreign companies.

On 29 June 2020, the Kazakhstan president signed the new Administrative Procedures Code, which will come into effect on 1 July 2021. The Administrative Procedures Code introduces major changes in a state authority’s exercise of public power and the resolution of disputes between private persons and state authorities.

The amendments came into force in July 2020 and are generally positive for market participants, particularly for issuers considering cross- and dual-listings.

A new set of amendments to the Kazakhstan personal data protection and informatization laws introducing dedicated state body, new services, and terminology came into force on 7 July 2020.

The president of the Republic of Kazakhstan recently signed the law, On Introduction of Amendments and Additions to Certain Legal Acts of the Republic of Kazakhstan on Matters Related to Improvement of Investment Climate, which came into effect on 11 July 2020.

The President of the Republic of Kazakhstan signed Law No. 321-VI, On Amendments into Certain Labour-Related Legislative Acts of the Republic of Kazakhstan (Amendment Law) on 4 May.

While the emergency situation in Kazakhstan ceased at midnight on 11 May, the Chief Sanitary Doctor issued new Resolution No. 36 on 10 May on Further Strengthening of Measures for Preventing Coronavirus Infection among Kazakhstan Population (Resolution No. 36) that came into effect on 11 May.

The International Technological Park “Astana Hub”—created in Kazakhstan in 2018—aims to create an environment for the implementation of industrial and innovative activities in the information technology sphere. This Insight focuses on key issues related to the Astana Hub and its participants from the Kazakhstan legal perspective.

The Kazakhstan government has adopted a resolution that establishes the so-called “adjustment coefficient” zero to salary-related taxes and payments in an effort to stabilize the economy during the coronavirus (COVID-19) pandemic.

The Labor Code of the Republic of Kazakhstan, No. 414-V, dated 23 November 2015 (the “Labor Code”) provides employers with the right to take certain actions towards employees in connection with the state of emergency in the country that was declared in response to the coronavirus.

We have created a chart on current investment preferences in Kazakhstan, which includes territory, economic industry, participant requirements, and any applicable exemptions, preferences, privileges, or subsidies.

In connection with the current state of emergency in Kazakhstan related to the coronavirus (COVID-19) pandemic, President Kassym-Zhomart Tokaev has signed a decree on a special military call-up in the Republic of Kazakhstan.

In response to the coronavirus (COVID-19) pandemic and the resulting economic fallout, the government of Kazakhstan has introduced several emergency measures to stabilize the country’s economy and help businesses.

The latest amendments to the Kazakhstan Rehabilitation and Bankruptcy Law were signed on April 2, 2019, and became effective from April 14. The amendments enhance the priority right of secured creditors through the acceptance of pledged assets in kind or the implementation of self-facilitated foreclosure over pledged assets. Notably, the law provides that pledged assets are carved out from...

Individuals not resident in Kazakhstan are subject to taxation on certain Kazakhstan-source income. This Insight provides information on what income is taxable, what exemptions apply, and the general taxation procedure, and gives hypotheticals of special cases of nonresident taxation.

Directors and officers of private companies are responsible for managing and running business. This responsibility is not limited to disciplinary liability (such as termination of employment), but also involves civil law liability (such as payment of damages) as well as administrative and even criminal liability. In some cases, the liability may be broad and contain no reasonable exceptions that...

An important update to the Controlled Foreign Corporations (CFC) regime, which is expected to be adopted in March, is being considered in Kazakhstan to narrow the scope of the CFC rules temporarily.

The code includes some key changes in the taxation of dividends, interest, and capital gains.

On January 1, 2017, amendments affecting individual income tax reporting came into force in the Republic of Kazakhstan. Amendments to the Tax Code of the Republic of Kazakhstan (Tax Code) became effective January 1, expanding the list of items subject to individuals’ mandatory tax reporting in connection with their individual income tax (IIT) obligations.

The law targets new payment systems and markets and improves the existing payment rules. In fall 2016, a new Law titled On Payments and Payment Systems (the Law), took effect in Kazakhstan. Upon the Law’s enactment, the previous Law, On Payments and Money Transfers, dated June 29, 1998, was abolished. The Law regulates relations regarding payment systems’ organization and functioning,...

The new law regulates issues relating to arbitration as a method for settlement of disputes. On 20 April, a new arbitration law entered into force in Kazakhstan (Arbitration Law) that contains a number of new provisions and repeals the preexisting laws below (collectively “old laws”)...

The changes oblige foreign TV channels to have registered representative offices. Beginning January 1, 2017, changes to the Kazakhstan Broadcasting Law will take effect that will apply to the operation of foreign TV and radio channels in Kazakhstan.

The new law regulates issues relating to hierarchy, legal force, and interpretation of legislative acts. On 19 April, a new law on legal acts took effect in Kazakhstan. The new law repealed the previous law on regulatory legal acts of 24 March 1998 (the old law). The new law’s main provisions are summarized below.

The change will be retroactive starting 1 January 2015. The Kazakhstan tax blacklist is a list of now 60 jurisdictions that Kazakhstan considers to be countries with privileged tax regimes.

Legalisation allows release from liability and legitimises the turnover of property. The Law on Amnesty of Kazakhstan Citizens, Repatriates (Oralmans), and Individuals Having Kazakhstan Permanent Residence Permit in Connection with Legalisation of Property (the Legalisation Law) will take effect on 1 September 2014.

The proposed amendments will affect dividends, capital gains, and VAT. A draft law amending the Kazakhstan Tax Code was introduced in July 2014 (the Draft Law). Currently, the Draft Law is being considered by business and professional organizations. If adopted, the main provisions of the law will take effect starting 1 January 2015.

The provisions that relate to permits and licenses were recently consolidated into one legislative act. In November 2014, the Permits and Notifications Law of 16 May 2014 (the New Law) will take effect in Kazakhstan. To implement the New Law, the Law on Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Permits System of 16 May 2014

The amendments aim to strengthen the requirements for banks’ net equity and charter capital as well as the price manipulation restrictions.

Under the new law, trade unions are limited and monitored. New Law No. 211-V of the Republic of Kazakhstan on Trade Unions, dated 27 June 2014, (the Law) has been adopted in Kazakhstan. The Law came into force on 11 July and defines rules and regulations governing trade union activity in the country. The Law abolished the old law on trade unions from 1993.