Compliance in the Former Soviet Central Asian Republics
This LawFlash summarizes the taxation of royalties in accordance with the new Tax Code of Kazakhstan that will come into effect in January 2026. The definition of “royalty” has been slightly modified in the new Tax Code....more
Anticipated to be finalized and adopted in July 2025, the new tax reforms for Kazakhstan would go into effect in January 2026. This LawFlash summarizes the taxation of income from capital gains when selling shares and...more
Uzbekistan, Kazakhstan, Tajikistan, Turkmenistan and Kyrgyzstan were all born out of the dissolution of the Soviet Union. With large energy deposits of national gas, many global companies and their suppliers are operating...more
Kazakhstan will soon adopt a new tax code, with the bill currently in Parliament. It is expected that the new tax code will be adopted this year and come into force beginning 2026. This LawFlash summarizes the general...more
The Republic of Kazakhstan, having vast reserves of natural resources and being located at the intersection of Europe and Asia, competes for investments in the region. As such, and as laid out in this article, the government...more
AT A GLANCE - It is important for foreign investors with assets and operations in Russia to know the options available to them and how different options may impact their investment protection and chances of bringing...more
The Minister of Energy of the Republic of Kazakhstan adopted an order on 27 January 2025 abolishing the state regulation of gasoline prices by invalidating some orders of the Ministry of Energy issued between 2014 and 2024....more
As part of its October 2024 Concept of Investment Policy of the Republic of Kazakhstan, on December 31, 2024, the acting minister of foreign affairs of the Republic of Kazakhstan issued Order No. 11-1-4/746 (the Order)...more
A recent order by the Acting Minister of Energy of the Republic of Kazakhstan made amendments to the rules for organizing and conducting auctions for renewable energy source projects. The order will go into effect on February...more
The Kazakhstan government recently amended the list of requirements that must be met by investors when applying for local authorities’ consent to allocate land plots for investment project implementation....more
On October 18, 2024, the government by its resolution approved the Concept of Investment Policy of the Republic of Kazakhstan until 2029 (the Concept). The main goals of the Concept are to attract at least US$ 150 billion of...more
The president of the Republic of Kazakhstan signed several amendments to the Constitutional Law of the Republic of Kazakhstan titled On the Judicial System and the Status of Judges of the Republic of Kazakhstan, which will...more
The General Prosecutor’s Office of the Republic of Kazakhstan issued an order earlier this year providing a proactive protection of rights and interests of investors in Kazakhstan. This LawFlash summarizes key takeaways from...more
On 6 April 2024, Kazakhstan adopted a law that will amend and supplement certain legislative acts on doing business (the Law). The Law amends a number of fundamental national legislative acts, including the Land Code, the...more
This LawFlash summarizes key takeaways from the recent amendments by the Kazakhstan government to the formula for calculation of the share of domestic value in a product....more
In its recent judgment in Tristan Oil Ltd v The Scheme Creditors (BVIHCM 2023/0120) the BVI Commercial Court (the Hon. Justice Paul Webster (Ag.)) has considered the question of when a party not bound by a scheme of...more
The Petition - On March 28, 2024, CC Metals and Alloys, LLC and Ferroglobe USA, Inc. (collectively, "Petitioners") filed an antidumping duty ("ADD") petition and a countervailing duty ("CVD") petition on imports of...more
On 21 December 2023, Mr Justice Waksman handed down his judgment in the second trial of the Eurasian Natural Resources Corporation (ENRC) saga. The judgment, along with its earlier companions, is extraordinary in many ways...more
A draft law, On ratification of the Specific Agreement between the Government of the Republic of Kazakhstan and the Government of the French Republic on Implementation of Cooperation in Combating Global Warming, was recently...more
The AIFC provides a favourable environment for companies registered there. It aims to attract investment in the Kazakhstan economy, develop local capital markets and engender the production of goods and services. As of 8...more
Heads of legal entities, founders (participants) of legal entities, individual entrepreneurs, and their spouses are now obligated to submit declarations on assets and liabilities as of 1 January. The obligation to submit...more
This LawFlash summarizes key takeaways from the recent amendments by the Kazakhstan government to the standard form of the power purchase agreement (PPA) for energy-producing organizations using renewable energy sources...more
Uzbekistan, Kazakhstan, Azerbaijan and Georgia have all set off on a journey of energy transition, but each of these countries is taking a path of its own, as Anton Konnov, Alexey Mareev and Arthur Minosyan explain....more
In general, foreign citizens and foreign legal entities (as well as Kazakhstan legal entities with foreign participation) have the same rights and bear the same obligations as Kazakhstan citizens and Kazakhstan legal...more
Legislative News - Subsoil Use - The Ministry of Energy has amended the Rules for monitoring subsoil users' compliance with the terms and conditions of subsoil use contracts regarding the annual scheduled / unscheduled...more