AIFC versus National Legislation of the Republic of Kazakhstan: Incorporation and Registration of Legal Entities#5 (143), November 2023
nvestors considering the possibility of launching their businesses in Kazakhstan have been increasingly focusing on the attractive conditions offered by the Astana International Financial Centre (the "AIFC"). Over 6 years of activities of the financial centre, more than 2,000 organizations have been successfully registered with the AIFC. In most cases, investors opt for a "private company" (the "Private Company"), an organizational legal form of a newly established legal entity. As of today, there are 1,867 registered private companies.
The Karachaganak field (also known as Karachaganak) is one of the largest oil and gas fields in the world, located in the western part of Kazakhstan. This field is a joint project between the Government of the Republic of Kazakhstan and several international oil and gas companies.
As the culture of corporate and social responsibility becomes more common, many local companies have started paying special attention to charity and allocating considerable funds to provide charitable assistance each year.
Review of the Upcoming Changes in Kazakhstan Tax Code: Cancellation of Dividend Tax Exemption and Limitations on Deductions for Related Non-Resident Supplier#5 (137), November 2022
Review of the upcoming changes in Kazakhstan Tax Code: cancellation of dividend tax exemption and limitations on deductions for related non-resident supplier
Climate changes present an extraordinary global issue beyond national borders. This issue requires adoption of coordinated decisions at all levels and carrying out global cooperation to help countries’ transition to low-carbon economy.
State Accounting of Employment Agreements: Practical Tips for Employers to Work with the Unified Employment Agreements Accounting System#6 (126), December 2020
Continued. Please see beginning in article: Yemelyanova, L. A. Unified Employment Agreements Accounting System and Other Important Changes in Labor Legislation. Petroleum, No. 4, 2020.
This article examines the key problems domestic gas market in Kazakhstan faces right now and analyses, among other issues, current and future gas market designs as well as third-party access (TPA), unbundling, gas pricing and pipeline tariff setting regulation.
The sale and purchase of oil and gas or mining companies are one of the most complex transactions. There are many nuances in checking the acquired asset, obtaining transaction permits from state authorities, and taxation aspects.
It is unquestionably common knowledge that people with disabilities need special approach and special attitude as a vulnerable category of the population.
Economic globalization and increasing number of cross-border transactions bring forth the objective need for contract documents unification. In the construction domain, this is resolved through FIDIC model contracts representing standardized forms of contracts for diverse construction operations.
Kazakhstan legislation is fairly advanced and recent taxation initiatives for both corporate income and personal income demonstrate that Kazakhstan is in many ways ahead of other post-Soviet countries. For instance, the concept of taxation of income of foreigners at the level of the host local company acting as a tax agent in relation to income tax even for income paid outside Kazakhstan is widely developed in Kazakhstan.
The Position of the Tax Authorities Prevents the Transition to the Terms of a Standard Contract for Subsoil Use#2 (116), April 2019
After the adoption of the new Code "On subsoil and subsoil use" (Code), subsoil users have the opportunity to update their obligations by switching to a standard subsoil use contract (SC). But they are in no hurry to do so because of the uncertainty of taxation.
Effective from 8 June 2018, Kazakhstan introduces a revised procedure for exercising state control and supervision over businesses' compliance with the local legislation requirements.
The amendments are mostly intended to more extensively use preventive measures, without instituting administrative proceedings. The list of the areas of activities subject to control has been reduced (leaving out 20 areas of activities out of 114 and 108 controlling functions of governmental agencies out of 544). The Administrative Code of the Republic of Kazakhstan no longer contains 47 articles previously providing for administrative liability of businessmen.
All permits in oil and gas industry may be conditionally divided into 2 major types: (а) contract or license for exploration and production of hydrocarbons and (b) permissions for activity and facilities related to exploration and production of hydrocarbons.