Judicial reform is a major part of Kazakhstan's efforts to modernize its economy and improve its investment climate. The fair resolution of disputes between the state and investors is a key focus of these efforts.
Continuation. Beginning in the #4-2015
Principles of subsoil use – an effective instrument or declaration? The Concept developers believe that the principles of subsoil legislation secured in the Subsoil Law need to be adjusted by filling them with the new content and adding new principles, previously unknown to the subsoil legislation.
A quality subsoil and subsoil use legislation is of strategic importance for Kazakhstan. Since the appearance of the first independent Kazakhstan's regulatory acts governing subsoil use relations and until nowadays, this legislation has undergone a huge number of changes, both conceptual and less important. It was especially feverish in recent years. Amendments adopted in December 2014 have perceptibly changed the situation and for the first time over the past 15 years there appeared a trend towards liberalization of legislation regulating the country's pivotal industry.
Any state cannot exist without taxes and control over the timely treasury reimbursement and taxes are conducted by state revenue bodies. One of the instruments of tax policy is tax inspections. Our last dispute practice between tax authorities and entrepreneurs on the additional charges based on the results of the tax inspections shows that entrepreneurs in general are always "at gunpoint" of the tax authorities and they are not protected from repeated for the same period inspections.
The Law on Subsoil and Subsoil Use dated 24 June 2010 (The Subsoil Use Law) regulates one of the most important areas of social relations in modern Kazakhstan. The Law on Subsoil is targeted to protect interests of the country and to achieve rational and comprehensive study and use of subsoil. Concise, effective and objective regulation of this area is very crucial for Kazakhstan as never before, and will be an enormous contribution (a “pledge” or a “guarantee”), into the long term and permanent investment into the areas of oil and gas and mining industry, taking into account the global economic disturbances.
On 17 November 2014 significant modifications were introduced into the Republic of Kazakhstan Code of Civil Procedure (CPC). Although such changes have been widely discussed among practitioners within the context of the new Code of Civil Procedure, introduction of these novelties came as a surprise to most practitioners, even to some of the judges. Modification of the existing procedural law to reflect some of the novelties anticipated in the draft of the new CPC may indicate that the new Code is not likely to be adopted as soon as initially expected.
This piece of information is formed only as a general guide and should not be used as a specialized legal conclusion.
As stated by the government, geological study is one of the priorities of industrial development of Kazakhstan.Despite the rich mineralresources, replenishing the mineral resource base remains as an urgent and serious problem for the state.According to various programs, the ministry in this field is trying to develop geological survey within its capabilities.
The influence of the mining industry on the economy of our country is great. It is therefore difficult to overestimate the importance of tax legislation, which isdesigned on the one hand, to encourage the growth of investment in this sector of the economy, and on the other to contribute to building a socially oriented state.
The Republic of Kazakhstan possesses significant reserves of oil and gas, which means the oil and gas industry holds the leading position in the structure of the national economy. Therefore the tax system in this sector needs to provide stability, transparency and progressivity,, take into account the general global situation and encourage investment.
An Overview of Important Amendments into Kazakhstan Laws Governing Enforcement of Judicial Acts Introduced in January 2014#3 (87), May 2014
Kazakhstan laws which govern enforcement of judicial acts were considerably amended in January of this year. These amendments effectively represent policy change towards enforcement of judicial acts in Kazakhstan, making it easier to enforce acts of courts and hold debtors liable for the failure to enforce. The new law may potentially affect everyone doing business in Kazakhstan, especially businesses. In this article, we would like to briefly describe the latest amendments into the law and compare the amended law with the previous regime.
Granting Preferences to Kazakhstani Legal Entities in Connection With Their Investments in Kazakhstan#2 (86), April 2014 special issue
The issues related to the provision of preferences to Kazakhstani legal entities in connection with their investments in Kazakhstan are mainly governed by the Law of the Republic of Kazakhstan “On Investments” dated January 8, 2003 (hereinafter the “Investment Law”) and the Code of the Republic of Kazakhstan “On Taxes and Other Obligatory Payments to the Budget” dated December 10, 2008 (hereinafter the “Tax Code”).
For many years, the investors, including subsoil users, have reasonably taken the state courts with mistrust. There are certain presuppositions for that. After all, if the state is a party to the dispute, the decision of the Court is often not only of usual civilian nature, but rather of political one. Therefore, the objectivity, independence and impartiality of judges of state courts suffer.
The General Issues of Contractual Stability in the Civil Law and Stability Terms in Subsoil Use Contracts#1 (85), February 2014
The dispositivity (principle of optionality) in the civil law lays special emphasis on a contract as an agreement of the parties to a civil transaction, which sets forth their rights and obligations. Article 2 of the Civil Code of the Republic of Kazakhstan specifies that parties are free to establish their rights and obligations on the basis of a contract and in the determination of contract terms and conditions, which do not contradict the law.
Kazakhstan has adopted and, starting late May 2013, enacted the new Visa Issuance Rules (hereinafter, the Rules), which also affect the visa period of validity reduction and extension issues.
Situations where a contractor performs additional work under a construction contract occur often in practice. In such a situation various questions arise: Is the contractor obliged to perform additional work? Does he or she have the right to demand payment for it and how can he or she reduce the potential risks of not being paid? Let’s examine these questions
The experts of GRATA Law Firm exclusively for Petroleum conducted a comparative analysis of the investment law in Kazakhstan and Azerbaijan
– Let us start with a particular example. In the spring of this year, a Norwegian company - Statoil, announced the departure of Kazakhstan. Having withdrawn Abai project, it chose Azerbaijan and signed a Memorandum of Understanding with the State Oil Company of Azerbaijan Republic in respect to Zafar and Mashal structures in the Azerbaijani sector of the Caspian Sea.