Important Changes in the Legislation of Kazakhstan

Source: zakon.kz

03.12.2024

"On the signing of the Agreement on the Common System for Customs Transit between the Eurasian Economic Union and Third Party"

On 29 November 2024, the President of the Republic of Kazakhstan (the ‘RK’) signed the Agreement on the Common System for customs transit of the EAEU (the ‘Agreement’).

The Agreement stipulates that the Common System shall be based on the following:

• The application of a common transit declaration in electronic form;
• Using common securities for the fulfilment of obligations to pay taxes, as well as customs, special, anti-dumping, and countervailing duties;
• Application of certain special simplifications granted to authorised economic operators of Member States and third party(ies);
• Application of navigation seals to track the transport of goods along the entire route under the customs transit procedure through the territory of the EAEU and third party(ies);
• Mutual recognition of decisions made by customs authorities and the results of customs control, considering the provisions of the EAEU international agreement with a third party(ies) on a common system of customs transit, and their use exclusively for the fulfilment of tasks and functions assigned to customs authorities.

It is planned that the application of the Single System with the use of electronic transit declaration will reduce the time of its issuance and submission, accelerate the passage of customs control, reduce the time of goods in transit, and the tracking mechanism with the use of navigation seals will ensure the delivery of goods to their destination and minimise the risks of non-delivery.

 

Source: zakon.kz

30.12.2024

Amendments to the Rules for the Activities of Natural Monopoly Entities

On 24 December 2024, amendments and additions were made to the Rules for the Activities of Natural Monopoly Entities. The amendments establish that procurement is to be conducted in compliance with the following principles:

• openness and transparency;
• ensuring that all potential suppliers have equal opportunities to participate;
• fair competition among potential suppliers;
• support to domestic producers of goods and suppliers of works and services to the extent that it does not contradict international treaties ratified by the RK.

A new provision has been added to the Rules providing for the procurement of goods, works and services by means of a tender through the portal using 2-stage procedures including a tender among domestic producers and a general tender.

Industrial certificate issued by the National Chamber of Entrepreneurs of the RK confirms the production of goods by a potential supplier listed in the register of domestic producers of goods, works and services.

If procurement among domestic producers is recognised as failed, the customer decides to engage other potential suppliers in accordance with the procedure established by the Rules.

For natural monopolies, the deadline for publishing tender documentation was reduced from 10 to 7 business days before the deadline for accepting bids.

Also, the time period for the tender committee (‘the Committee’) to consider the bids of potential suppliers has been reduced from 5 to 3 business days from the deadline for submission of the bid.

The Committee's decision on preliminary admission of potential suppliers to participate in the tender shall be taken within 3 business days from the deadline for submission of bids and on the day of the decision shall be posted by the secretary of the Committee on the portal with automatic notification of potential suppliers by e-mail.

The members of the Committee shall sign the Protocol of preliminary admission to participation in the tender.

In the absence of potential suppliers who do not meet the requirements of cl. 152 of the Rules, the Protocol shall not be formed.

In addition, it is stated that when the Committee re-examines the bids for participation in the tender, it is not allowed to reject potential suppliers on the grounds not provided for in the Protocol.

The Order came into force on 7 January 2025.

Source: zakon.kz

05.01.2025

Changes in the Rules of Currency Transactions in Kazakhstan

By Resolution of 22 August 2024, the National Bank amended the regulations governing foreign exchange operations. The amendments entered into force on 1 January 2025.

Purchase of foreign currency

When purchasing non-cash foreign currency for KZT on 1 business day for the total amount exceeding USD 50,000 (equivalent), the resident legal entity shall indicate the purpose of purchase, submit to the bank the currency agreement, as well as an indication of the return sale of the part of unused currency, which, considering previous applications, exceeds USD 50,000 (equivalent).

At that, the total amount of currency purchases is calculated for all customer's requests on 1 operational day, regardless of the purchase purpose. Without providing supporting documents and indicating the reverse sale, the client may purchase currency in 1 bank on 1 operational day for any purpose in the amount not exceeding USD 50,000 (equivalent).

To meet this requirement, when purchasing currency in order to fulfil obligations under a foreign exchange contract, it is necessary to submit a foreign exchange contract to the bank, regardless of the purchase amount.

Transfer of funds under foreign exchange transactions

In case of transfer of previously purchased foreign currency to another authorised bank, the application for transfer of own funds shall contain information on the date of purchase of currency, as well as the number and date of the currency agreement, pursuant to which it was purchased. If this information is missing in the application for transfer of funds, the bank will be forced to refuse the client to carry out the transaction.