Tax & Legal Alerts (FY17)

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Special edition №63

Review of letters from the tax authority

The State Revenue Committee (“SRC”) clarifies that the tax legislation does not limit voluntary issuance of electronic VAT invoices (“einvoices”)...

Special edition №61

Rules on provision of confidential tax information to law enforcement officials were introduced

A Joint Order of theMinisters of Justice and Finance established rules of provision of confidential tax information to law enforcement officials without a taxpayer’s (tax agent’s) consent.

Special edition №59

Draft Law "On Currency Regulation and Currency Control"

The National Bank published an updated Draft Law “On Currency Regulation and Currency Control” (the “Draft Law”) in May 2017.

Special edition №57

Quota request applications due before 1 August 2017

Employers seeking to sponsor foreign nationals for employment in 2018 should prepare and submit their quota request no later than 31 July 2017.

Special edition №56

Participation in the obligatory social medical insurance system

The President has approved changes to obligatory social medical insurance (OSMI) rates.

Special edition №55

Introduction of Antimonopoly Compliance

Kazakhstan has introduced the concept and regulation of antimonopoly compliance in relation to business entities. Companies can establish rules of internal control and external interaction on the market.

Special edition №54

Amendments to legislation regarding compulsory audit of LLPs

In March 2017, amendments to the legislation on improvement of the civil and banking legislation came into force.

Special edition №53

The new EAEU Customs Code will enter into force on 1 January 2018

In this issue, we present significant aspects of the Customs Code of the Eurasian Economic Union which will enter into force on 1 January 2018.

Special edition №52

Amendments to intellectual property legislation

The draft law on introduction of amendments and additions to certain legal acts regarding the improvement of intellectual property legislation (the “Draft Law”)...

Special edition №50

Review of the tax authority letters

Based on Article 117 of the Tax Code, property, plant and equipment (“PP&E”) should be placed in fixed asset groups in accordance with the classification established by the authorized state body.

Special edition №49

Amendments to civil and banking legislation, and improvement of conditions for doing business

Significant amendments to civil and banking legislation, and improvement of conditions for doing business were introduced.

Special edition №48

Overview of key amendments to tax legislation in 2017

Further to our seminars and webinars, in this issue of our alert we summarize significant amendments to the tax legislation, which come into force in 2017.

Special edition №47

Court practice on tax disputes

Insurance company against the Customs Control Department of Almaty region

Special edition №46

Launch of the ATA Carnet temporary import system in Kazakhstan

Starting from 1 April 2017, the ATA Carnet temporary import system will be launched in Kazakhstan.

Special edition №45

Changes in legislation and court practice concerning sham business

Amendments to criminal and tax legislation are expected to decriminalize sham business and shift responsibility for sham entities’ unlawful actions from its counterparts to the sham entity’s executives.

Special edition №44

Increase in the late interest penalty

Starting from 1 April 2017, the official refinancing rate will double, resulting in increase in the late interest penalty.

Special edition №42

The Draft Code on Subsoil and Subsoil Use

The Draft Code on Subsoil and Subsoil Use as of 22 December 2016 envisages significant changes.

Special edition №41

World Bank Group’s Handbook for Transfer Pricing policy makers and practitioners in developing countries

Tax policy and administration concerning international transactions, aggressive tax planning and tax avoidance are an issue of extensive international debate.

Special edition №40

Draft Law "On Currency Regulation and Currency Control"

The National Bank of Kazakhstan has published a draft Law “On Currency Regulation and Currency Control”. The draft law introduces amendments including...

Special edition

Speech of the President of the Republic of Kazakhstan “Third Modernisation of Kazakhstan: Global Competitiveness” - taxation issues

In a published Speech of the President of the Republic of Kazakhstan “Third Modernisation of Kazakhstan: Global Competitiveness”, the Head of the State highlighted five priorities of strategic development for the country.

Special edition №39

Main changes in tax legislation in respect of value-added tax (VAT) effective from January 1, 2017

Along with a gradual decrease of theminimal threshold for sales turnover that is subject to VAT registration as well as gradual shift to issuance of VAT invoices in the electronic form, which we published in our previous alert...

Special edition №38

Starting from 1 January 2017 new Rules of Entry and Stay of Immigrants came into force in Kazakhstan

On 1 January 2017 amendments to the Rules on entry, stay and departure of immigrants from Kazakhstan came into effect. They extended the list of countries for visa-free travel to 45.

Special edition №37

Amendments to the Law “On Television and Radio Broadcasting”

On January 1 2017 the following amendments to the Law “On Television and Radio Broadcasting” came into force...

Special edition №36

Kazakhstan ratified the Convention for the avoidance of double taxation with Slovenia

On 30 December 2016 the President of the Republic of Kazakhstan signed Law №37-VI “On Ratification of the Convention between the Government of the Republic of Kazakhstan and the Government...

Special edition №35

Amendments to the norms of the Entrepreneurial Code relating to natural monopolies and protection of competition

Certain very significant amendments to the Entrepreneurial Code relating to natural monopolies and protection of competition came into force from 1 January 2017.

Special edition №34

Pricing methodology for Kazakhstan's share in the North Caspian Sea Production Sharing Agreement

The Government issued Decree #653 in November 2016 establishing the methodology for pricing export sales of crude oil that represents Kazakhstan's share in the North Caspian Sea Production Sharing Agreement (the "NCS PSA").

Special edition №32

Amendments to the Competition Legislation of Kazakhstan

On January 1 2017 the following amendments to the Entrepreneurial Code concerning anti-trust regulation came into effect...

Special edition №31

Сourt practice on tax disputes

The tax authorities performed a tax audit of the transportation Company on confirmation of VAT claimed for refund from the state budget.

Special edition №30

NewWork Permit Rules

The Government approved a resolution on new Rules of Establishing Quotas for Attraction of a Foreign Labour Force on 15 December. The resolution (published on 24 December) will come into force from 1 January 2017.

Special edition №29

Lists of companies that will be inspected in 2017

On the 25th of December, 2016 the official Internet resource of the General Prosecutor's Office of the Republic of Kazakhstan (www.prokuror.kz) published a list of companies which are subject to inspection by special order in 2017.

Special edition №28

OECD published the Multilateral Convention on implementation of BEPS

On 24 November 2016, the OECD published the Multilateral Convention (the «MLI») to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting («BEPS»).

Special edition №27

The Court of the EAEU issued a positive Advisory Opinion on goods subject to quota

As you may be aware, local entrepreneurs imported agricultural products from third countries under reduced customs duty rates within the limits of the tariff quota on the basis of import licenses issued by the Ministry of National Economy.

Special edition №26

Readiness for country-by-country reporting

Recommendations of the OECD prescribe submission of CbCR by an ultimate parent entity of a MNE in the country of its incorporation with a following provision of CbCR to foreign tax administrations under information exchange procedure...

Special edition №25

Government proposes to repeal contradictory provisions of the new work permit rules

A meeting between the Minister of Health and Social Development, Mrs Tamara Duisenova and business took place in Astana on 5 December 2016. New work permit rules coming into effect from 1 January 2017 were on the agenda.

Special edition №24

EEC recommendations on adding license payments to the price of imported goods

On November 15, 2016, the Board of the Eurasian Economic Commission (“EEC”) adopted Recommendation №20 on the inclusion of the license payments for the use of intellectual property rights into the customs value of goods...

Special edition №22

Assistance with signing Investment Contract

Kazakhstan legislation provides for a number of ways to facilitate investment activities offering in exchange significant investment preferences.

Special edition №21

NewWork Permit Rules

Executives of branches and representative offices (of foreign companies) did not need work permits (WPs) pursuant to current WP rules.

Special edition №20

Issue with apostilisation of Russian tax residency certificates is resolved

On 14 November 2016, President of the Republic of Kazakhstan Nursultan Nazarbayev signed Law “On ratification of an Agreement in form of exchange of notes with respect to order of acceptance of official documents confirming residence...

Special edition №19

Ratification of Double Tax Treaty and Protocol with Serbia

On 14 October 2016, the President signed the law on the ratification of the Double Tax Treaty and Protocol with Serbia. The Protocol will enter into force after the exchange of ratification notes.

Special edition №18

PwC Tax Alert: Review of the latest letters from tax authorities

The SRC responded to the Association of Taxpayers’ question regarding which of various oil quality certificates obtained during the export process...

Special edition №17

Tax and Legal alert

From 1 January 2017 the minimum wage will be KZT 24 459 (pursuant to the draft law on the republic level budget for 2017 – 2019). The monthly calculation index will be KZT 2 269.

Special edition №16

Issue with apostilization of Russian tax residency certificate is almost resolved

On 27 October 2016, the Senate of the Parliament of Kazakhstan approved a draft law “On ratification of an Agreement in form of exchange of notes with respect to order of acceptance of official documents confirming residence...

Special edition №15

Cyprus was removed from the list of states with privileged taxation

Cyprus was excluded from the list of states with privileged taxation based on the Order of the Kazakhstan Ministry of Finance dated 5 September 20161. This Order will enter into force after 10 calendar days from the day of its official publication...

Special edition №14

New work permit rules for expatriate employees

Effective 1 January 2017 new rules and procedures on application and extension of work permits for expatriate employees, and on inter-corporate transfer will come into force.

Special edition №13

Special issue: Court practice on tax disputes

In the course of the tax audit the tax authorities sent a request to Almaty Prosecutor’s office regarding the appointment of expert handwriting analysis to identify the authenticity of signature of the supplier’s Head on primary accounting documents.

Special edition №12

E-Invoicing: Tax authorities levy penalties

Almaty Department of State Revenues has been issuing Notifications on the violation of tax legislation with respect to tax invoices issued in paper form when selling goods, to which reduced customs duty rates are applied...

Special edition №11

The Majilis approves ratification of the Paris Agreement on climate change

On 12 October, the Majilis (the lower chamber of the Kazakh Parliament) approved ratification of the 2015 Paris Agreement.

Special edition №8

State fees for work permit application to be introduced from 1 January

Effective from 1 January 2017 a fee for work permit applications and renewals of work permits will be introduced.

Special edition №7

Concept of the Law "On Currency Regulation and Corrency Control"

The National Bank of Kazakhstan (the “NBK”) has drafted a concept of a draft Law “On Currency Regulation and Currency Control” (“the Concept”). It has been distributed to business associations for discussion.

Special edition №5

Court practice on tax disputes

The Company acquired services from several local providers on mining of sand clay, loading and transportation. The service providers issued VAT invoices and signed acts of acceptance for such services.

Special edition №4

Changes to the tax reporting forms and rules

The Ministry of Justice has approved a Decree (№324) on Amendments to the Decree №587 «On Approval of Tax Reporting Forms and Rules on Their Preparation» (25 December 2014).

Special edition №3

Draft changes to Tax code: New dates for transition to e-invoicing

According to a draft Law "On Introduction of Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on Taxation and Customs Administration Issues"...

Special edition №2

New restrictions on the transit of cargo from Ukraine to Kazakhstan through Russia

On 1 January 2016, the President of the Russian Federation issued a Decree “On measures to ensure economic security of Russia's national...

Special edition №1

Court practice on tax disputes

The tax authorities assessed additional obligations associated with payments for use of land plots due to disagreement with the Company’s approach for classification of lands.