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Kazakhstan's Government continues its policy on attracting the local and foreign investors to develop country's rich mineral reserves. For coordinated working environment, except political stability, investment climate, investors also need well-developed and reasonable legal system.
The tax legislation is one of the most dynamically developing areas of law in Kazakhstan. Since the beginning of its formation the taxation system has suffered numerous changes due to both the continuous process of simplification and improvement of administrative procedures, elimination of gaps and ambiguities, the need to regulate new activities, encouragement of the development of certain sectors, and the fundamental change of conditions of taxation and codification of legislation.
M & A transactions in Kazakhstan, as they are usually defined in international practice, when two giant companies merge into one global firm, do not take place in the country. Rather, it is a method of the entrance to the Kazakhstan market of foreign corporations, which make it through the purchase of a local company. Today, in connection with the development of special economic zones that provide attractive tax and customs benefits, the interest in the establishment of industrial production facilities there increased. They are also carried out by M & A transactions.
Kazakhstan's key industrial sectors are oil and gas, mining, electricity, transport and communications, chemicals and pharmaceuticals. These sectors were recognised as development priorities in the Government Programme for Accelerated Industrial-Innovative Development (2010 – 2014) (the "Programme"), the aim of which is to diversify the Kazakh economy and modernise industry. Therefore, in 2012, the major changes to the gas sector in Kazakhstan were a result of the Law on Gas and Gas Supply (the "Law on Gas") and appointment of KazTransGas JSC as the sole national operator.
This article is prepared by Miran Maulenov, Cand. Sc Law, Managing Partner of Olympex Advisers LLP . For further information please email to Miran.Maulenov@olympex.kz
This article is prepared by Yessen Massalin, Head of Corporate practice. For further information please email to email@example.com
In this issue we would like to draw your attention to the review of significant changes regarding Customs Union and Single Economic Area.
Hereby we inform you Article 22-1 of Law of the Republic of Kazakhstan No. 461-II dated 2 July 2003 "On securities market" was amended effective from 1 February 2012.
Ministry of Oil and Gas for the first time to impose the fines on the companies which are in breach of local content requirements.
In this issue we would like to draw your attention to recent amendment to the licensing rules.
Galadari, Advocates & Legal Consultants - one of the oldest and largest law firms in the UAE - have now expanded their practice by opening an office in the Jebel Ali Free Zone (JAFZA).
With just a few weeks to go until 22 July 2013, the date upon which the Alternative Investment Fund Managers Directive (the "Directive") must be implemented in all EEA Member States*, the cooperation agreement between Jersey and the competent authorities of EEA Member States was agreed by ESMA's Board of Supervisors on 22 May 2013. While ESMA has negotiated the cooperation agreement centrally, it must be signed by each EEA securities regulator and the relevant non-EEA authority, since the supervision of Alternative Investment Fund Managers ("AIFMs") lies with the national securities regulator.
Stepan Guzey, Partner at Lidings' Moscow office, will attend a one-day conference entitled ‘Russian Arbitration Day 2013', organized by the International Commercial Arbitration Court and Maritime Arbitration Commission. The conference will take place at Congress Centre of the RF Chamber of Commerce and Industry on 20 June.
AstapovLawyers International Law Group acted as a legal partner of the XXII Open Nationwide Weightlifting Competition, which was held on 7-11 May in Slavutych, Ukraine.
AstapovLawyers Managing Partner Andrey Astapov and Associate Anna Kombikova attended the III St. Petersburg International Legal Forum which took place on 15-18 May 2013.
AstapovLawyers International Law Group has co-sponsored IV Mercedes-Benz Kommersant-Weekend Golf Cup 2013, which took place on May 25th at the Kiev's Golfstream Golf Club.
Yuliya Chernykh, partner with ARBITRADE Attorneys-at-Law is awarded the prestigious Legal Awards 2013 in the category Best arbitration lawyer.
AstapovLawyers International Law Group has been highly recognized by the UK's authoritative legal directory Chambers Europe 2013 and well-respected local guide Ukrainian Law Firms: Handbook for foreign clients 2013.
Pro Bono Activities Development in Ukraine organized by the Ukrainian Legal Aid Foundation. The event took place as part of the Fourth All-Ukrainian Day of Pro Bono on 16 May 2013 in the press center of the Ukrainian national information agency Ukrinform.
Kyiv, 29 May 2013 – Law Firm “Avellum Partners” was announced the winner in the “Best Banking and Finance Law Firm of the Year” award category at the Legal Awards 2013 ceremony held by Yuridicheskaya Praktika on 28 May 2013 at Hyatt Regency Kiev.