ICLGThe International Comparative Legal Guide to: Corporate 2016 12th Edition A practical cross-border insight into work

Published by Global Legal Group, with contributions from:

Advokatfirma Ræder DA Juridicon Law Firm Ali Budiardjo, Nugroho, Reksodiputro Kilpatrick Townsend & Stockton Advokat KB Andreas Neocleous & Co LLC Kyriakides Georgopoulos Law Firm Arqués Ribert Junyer Advocats Lenz & Staehelin Avanzia Taxand Limited Lexelis Advocaten Baker Tilly Klitou and Partners LEX Law Offices Business Services EOOD Manuel Gonçalves Advogados (MGA) Bentsi-Enchill, Letsa & Ankomah Maples and Calder Bloomfield Law Practice Mattos Filho, Veiga Filho, Marrey Jr e Boga & Associates Quiroga Advogados Bredin Prat MNKS BTM Lawyers SCA Morais Leitão, Galvão Teles, Soares da Silva Calderón, González y Carvajal, S.C. & Associados Cárdenas & Cárdenas Abogados Nagashima Ohno & Tsunematsu Deloitte Tax Ospelt & Partner Attorneys at Law Ltd. DLA Piper P+P Pöllath + Partners Ferraiuoli LLC Schindler Attorneys GENI & KEBE Seyfarth Shaw LLP GRATA Law Firm Slaughter and May Greenwoods & Herbert Smith Freehills Sysouev Bondar Khrapoutski Guevara & Gutiérrez S.C. Thorsteinssons LLP ICF Legal Service YUST The International Comparative Legal Guide to: Corporate Tax 2016

General Chapter: 1 The Road to (VAT) Recovery – William Watson, Slaughter and May 1 Country Question and Answer Chapters: 2 Albania Boga & Associates: Alketa Uruçi & Andi Pacani 7

Contributing Editor 3 Andorra Arqués Ribert Junyer Advocats: Daniel Arqués i Tomàs & William Watson, Mireia Ribó i Bregolat 12 Slaughter and May 4 Angola Manuel Gonçalves Advogados (MGA): Alexandra do Nascimento Gonçalves Head of Business & Fernanda Mualeia 19 Development Dror Levy 5 Australia Greenwoods & Herbert Smith Freehills: Adrian O’Shannessy & Tony Frost 24 Sales Director Florjan Osmani 6 Austria Schindler Attorneys: Clemens Philipp Schindler & Martina Gatterer 32 Account Directors 7 Belarus Sysouev Bondar Khrapoutski: Anastasia Malakhova & Andrei Kosov 40 Oliver Smith, Rory Smith 8 Belgium Lexelis Advocaten: Patrick Vanhaute 46 Senior Account Manager Maria Lopez 9 Bolivia Guevara & Gutiérrez S.C.: Mauricio Dalman 55 Sales Support Manager Toni Hayward 10 Brazil Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados: Luiz Felipe Centeno Ferraz & Renata Correia Cubas 60 Sub Editor Nicholas Catlin 11 Bulgaria Baker Tilly Klitou and Partners Business Services EOOD: Svetla Marinova & Radostina Doneva 66 Senior Editor Suzie Levy 12 Canada Thorsteinssons LLP: Michael Colborne & Michael McLaren 72 Group Consulting Editor Alan Falach 13 Colombia Cárdenas & Cárdenas Abogados: Camilo Cortés & Martha Reyes 78 Group Publisher 14 Congo – D.R. BTM Lawyers SCA: Natacha Latere & Gustave K. Luzolo 84 Richard Firth 15 Cyprus Andreas Neocleous & Co LLC: Elias Neocleous & Philippos Aristotelous 89 Published by Global Legal Group Ltd. 16 France Bredin Prat: Yves Rutschmann & Marion Méresse 95 59 Tanner Street London SE1 3PL, UK 17 Germany P+P Pöllath + Partners: Michael Best & Nico Fischer 102 Tel: +44 20 7367 0720 Fax: +44 20 7407 5255 18 Ghana Bentsi-Enchill, Letsa & Ankomah: Seth Asante & Frank Nimako Akowuah 109 Email: [email protected] 19 Greece Kyriakides Georgopoulos Law Firm: Panagiotis Pothos & Georgia Balopoulou 115 URL: www.glgroup.co.uk GLG Cover Design 20 Hong Kong DLA Piper: Patrice Marceau & Jennifer Wu 122 F&F Studio Design 21 Iceland LEX Law Offices: Garðar G. Gíslason & Garðar Víðir Gunnarsson 127 GLG Cover Image Source iStockphoto 22 Indonesia Ali Budiardjo, Nugroho, Reksodiputro: Freddy Karyadi & Printed by Chaterine Tanuwijaya 132 Ashford Colour Press Ltd 23 Ireland Maples and Calder: Andrew Quinn & David Burke 139 November 2015 Copyright © 2015 24 Japan Nagashima Ohno & Tsunematsu: Shigeki Minami 145 Global Legal Group Ltd. All rights reserved 25 GRATA Law Firm: Assel Ilyassova 152 No photocopying 26 Kosovo Boga & Associates: Alketa Uruçi & Andi Pacani 157 ISBN 978-1-910083-68-0 ISSN 1743-3371 27 Liechtenstein Ospelt & Partner Attorneys at Law Ltd.: Alexander Ospelt & Martin Gassner 162

Strategic Partners 28 Lithuania Juridicon Law Firm: Laimonas Marcinkevičius & Ingrida Steponavičienė 168 29 Luxembourg MNKS: Raquel Guevara 178

30 Malta Avanzia Taxand Limited: Walter Cutajar & Mary Anne Inguanez 186

31 Mexico Calderón, González y Carvajal, S.C.: Alejandro Calderón Aguilera & Arturo Carvajal Trillo 193

32 Nigeria Bloomfield Law Practice: Bode Adegoke & Busayo Adedeji 199

33 Norway Advokatfirma Ræder DA: Rolf H. Nicolaissen & Sigurd Garmann Tuntland 203

34 Portugal Morais Leitão, Galvão Teles, Soares da Silva & Associados: António Lobo Xavier & António Pedro Braga 209

Continued Overleaf

Further copies of this book and others in the series can be ordered from the publisher. Please call +44 20 7367 0720

Disclaimer This publication is for general information purposes only. It does not purport to provide comprehensive full legal or other advice. Global Legal Group Ltd. and the contributors accept no responsibility for losses that may arise from reliance upon information contained in this publication. This publication is intended to give an indication of legal issues upon which you may need advice. Full legal advice should be taken from a qualified professional when dealing with specific situations.

WWW.ICLG.CO.UK The International Comparative Legal Guide to: Corporate Tax 2016

Country Question and Answer Chapters: 35 Puerto Rico Ferraiuoli LLC: Pedro P. Notario-Toll & Reinaldo A. Díaz-Pérez 215

36 Romania Deloitte Tax: Dan Bădin & Daniel Petre 220

37 Russia YUST: Maxim Rovinskiy & Ekaterina Boldinova 225

38 Senegal GENI & KEBE: Rahimine Toure & Ndèye Absatou Ndiaye 231

39 Sweden Kilpatrick Townsend & Stockton Advokat KB: David Björne 236

40 Switzerland Lenz & Staehelin: Pascal Hinny & Jean-Blaise Eckert 244

41 Ukraine ICF Legal Service: Natalya Ulyanova & Oleg Derlyuk 253

42 United Kingdom Slaughter and May: Zoe Andrews & William Watson 259

43 USA Seyfarth Shaw LLP: John P. Napoli & Michael Rosenthal 267 Chapter 25

Kazakhstan

GRATA Law Firm Assel Ilyassova

carried out, and where strategic business decisions (for carrying out 1 Tax Treaties and Residence business activities) are made.

1.1 How many treaties are currently in force in Kazakhstan? 2 Transaction

To date, Kazakhstan has entered into double tax treaties with 49 2.1 Are there any documentary taxes in Kazakhstan? countries. There are no documentary or other similar taxes or duties. 1.2 Do they generally follow the OECD Model Convention or another model? 2.2 Do you have Value Added Tax (or a similar tax)? If so, at what rate or rates? Kazakhstan double tax treaties are mostly based on the OECD Model Convention. Kazakhstan has value added tax (VAT). Import and sales of goods to Kazakhstan, as well as provision of services in Kazakhstan, 1.3 Do treaties have to be incorporated into domestic law are subject to VAT at the rate of 12%. As to the of goods, before they take effect? international transportation services and sales of goods in special economic zones under certain conditions, the VAT rate is 0%. Double tax treaties shall be binding upon completion of the ratification VAT is payable by a taxpayer if it is either registered as a VAT- procedure. Ratified treaties will become a part of Kazakhstani payer with a local tax authority, or imports goods into the territory and have direct effect in Kazakhstan. of Kazakhstan. VAT registration is mandatory for a taxpayer in the case that its taxable 1.4 Do they generally incorporate anti-treaty shopping turnover exceeds 30,000 times the current monthly assessment index rules (or “limitation on benefits” articles)? (nearly US$ 212,360 in aggregate) for the calendar year. Along with that, any taxpayer can apply for voluntary VAT registration, regardless Most double tax treaties do not contain anti-treaty shopping rules, of the size of its turnover. with the exception of those with the US and UK. The taxpayer is required to pay import VAT on imports of goods into Kazakhstan, regardless of VAT registration.

1.5 Are treaties overridden by any rules of domestic law (whether existing when the treaty takes effect or 2.3 Is VAT (or any similar tax) charged on all transactions introduced subsequently)? or are there any relevant exclusions?

A ratified double prevails over domestic law. Certain transactions are exempt from VAT. These include: turnover on certain sales, including services provided in connection with the activities of attorneys and notaries; certain turnovers connected with 1.6 What is the test in domestic law for determining land and housing; certain banking, insurance, reinsurance and other corporate residence? financial activities; the interest element of finance lease payments; geological exploration and prospecting; sales of goods and services, Kazakhstan tax residents are recognised legal entities established associated with the implementation of infrastructure projects; sale of under the Kazakhstani laws, and foreign legal entities whose place an enterprise; import of certain assets, the list of which is approved of effective management is located in Kazakhstan. by the Government; revenue from refining precious metals (gold The place of effective management is deemed to be located where and platinum); and sales of goods and services associated with meetings of the actual management body (board of directors or medical and veterinary activities, the list of which is approved by similar) take place, where the basic management and/or control is the Government.

152 WWW.ICLG.CO.UK ICLG TO: CORPORATE TAX 2016 © Published and reproduced with kind permission by Global Legal Group Ltd, London GRATA Law Firm Kazakhstan

2.4 Is it always fully recoverable by all businesses? If not, 3.3 Would there be any withholding tax on interest paid what are the relevant restrictions? by a local company to a non-resident?

Yes, generally VAT-payers are eligible to offset the amount of VAT Interest paid to a non-resident is treated as income from Kazakhstani paid for purchased goods, works and services, including reverse- sources, subject to withholding tax at the rates of: 15%, which can charge VAT already paid, and import VAT paid at (input be reduced under the applicable double tax treaty; and 20%, if the VAT), against the charged VAT (output VAT), providing that it is recipient is located in a country with preferential taxation. incurred in relation to business activity. Input VAT is not allowed for offset, if it is paid on goods and services not related to a business 3.4 Would relief for interest so paid be restricted by activity, taxable turnover, purchase of passenger cars as fixed assets, reference to “thin capitalisation” rules? building expenses for residential housing, etc. Kazakhstan The excess of input VAT over output VAT may be carried forward Yes, deduction of interest paid to related parties or to unrelated against future VAT liabilities for offsetting. parties under related parties’ guarantees, or to parties registered in countries with preferential taxation, is restricted, i.e. it is subject to 2.5 Are there any other transaction taxes payable by “thin capitalisation rules”. companies? 3.5 If so, is there a “safe harbour” by reference to which There are no other transaction taxes. tax relief is assured?

2.6 Are there any other indirect taxes of which we should Interest paid to an unrelated party can generally be deducted by the be aware? taxpayer in the whole amount. In the case of interest paid either to a related party or a resident of is applying to the importation and sale of all a country with preferential taxation, or to an unrelated party under types of spirits, alcohol, tobacco, petrol/gasoline (excluding aviation a loan guaranteed by the related party, the whole amount of paid fuel), diesel, cars, crude oil and natural gas condensate. Excise tax interest can be deducted, if the taxpayer’s debt-to-equity ratio is 7:1 rates vary depending on the type of excisable goods. for a financial institution and 4:1 for all other entities.

3 Cross-border Payments 3.6 Would any such rules extend to debt advanced by a third party but guaranteed by a parent company?

3.1 Is any withholding tax imposed on dividends paid by Yes, the thin capitalisation rules apply to debt provided by an a locally resident company to a non-resident? unrelated party under related parties’ guarantees, if interest is paid by performance of the guarantee. Dividends paid to a non-resident shareholder are treated as income from Kazakhstani sources, subject to withholding tax at rates of: 15%, 3.7 Are there any other restrictions on tax relief for which can be reduced under an applicable double tax treaty; and 20%, interest payments by a local company to a non- if the recipient is located in a country with preferential taxation. The resident? list of such countries is approved by the Kazakhstan Government, and includes, for instance, Cyprus, the British Virgin Islands, certain other No, generally interest paid to third parties is fully deductible, as long Antillean nations, etc. At the same time, under Kazakhstani domestic as it does not fall under the thin capitalisation rules. tax law, dividends can be exempted from taxation for both resident Also, a loan can formally be subject to the control. and non-resident shareholders, providing that: If the loan is provided to the related party and the interest rate ■ the shareholder is not a resident of a country with preferential exceeds the average market rate (arm’s length), then the revealed taxation; difference is not allowed to be deducted. ■ shares or participatory interests in charter capital of a local legal entity are owned by the shareholder for more than three years; 3.8 Is there any withholding tax on property rental ■ 50% or more of the value of the shares or participatory payments made to non-residents? interest of the resident legal entity paying the dividends, is comprised of assets of entities which are not subsurface users Property rental payments are treated as income from Kazakhstani in Kazakhstan. sources, subject to withholding tax at a general rate of 20%.

3.2 Would there be any withholding tax on royalties paid 3.9 Does Kazakhstan have transfer pricing rules? by a local company to a non-resident? Yes, these are regulated by a separate Law on Transfer Pricing Royalties paid to a non-resident are treated as income from which entered into force in 2009. The transfer pricing rules apply Kazakhstani sources, subject to withholding tax at the rates of: to transactions between related and unrelated parties, including all 15%, which can be reduced under the applicable double tax treaty; cross-border transactions and certain domestic transactions. The and 20%, if the recipient is located in a country with preferential law envisages the arm’s length principle. Taxpayers are required taxation. to maintain reports and/or documentation justifying the transaction price used and transactions concluded during the reporting period, and to submit such documents to the authorities.

ICLG TO: CORPORATE TAX 2016 WWW.ICLG.CO.UK 153 © Published and reproduced with kind permission by Global Legal Group Ltd, London GRATA Law Firm Kazakhstan

2) Value added tax. 4 Tax on Business Operations: General 3) Excise tax. 4) “Payroll taxes”: 4.1 What is the headline rate of tax on corporate profits? ■ Individual income tax withheld at source of payment. ■ Social tax. The rate of the corporate income tax is 20%, applied to a taxable ■ Obligatory pension payments. base. ■ Social security contributions. 5) Land tax. 4.2 Is the tax base accounting profit subject to adjustments, or something else? 6) Tax on transport vehicles.

Kazakhstan 7) . is subject to the corporate income tax at the rate 8) Rent tax on exported crude oil and liquid natural gas. of 20%. Taxable income is determined as the difference between 9) Taxes and special payments of subsurface users: aggregate annual income and certain statutory deductions, including ■ Excess profit tax. tax depreciation deductions, and adjustments. ■ Mineral extraction tax. ■ Signature bonus. 4.3 If the tax base is accounting profit subject to ■ Commercial discovery bonus. adjustments, what are the main adjustments?

Deductions generally include all expenses related to business activities 5 Capital Gains and directed at income generation. Examples of expenses that are allowed for deduction can found below (this list is not exhaustive): 5.1 Is there a special set of rules for taxing capital gains ■ Interest expenses, within limits. and losses? ■ Business trip and representative expenses. ■ Foreign exchange losses, when such losses exceed foreign Yes, Kazakhstani tax law prescribes rules of taxation on capital exchange gain. gains and losses. ■ Doubtful debts. Capital gains on the disposal of shares and participation interest in ■ Insurance premiums. charter capital are calculated as positive difference between the sale ■ Depreciation. price and the initial cost of the shares or participation interest. The ■ Paid taxes. capital gain earned by the non-resident is subject to withholding tax at the rate of 15%, although if the gain is paid to an entity located in a country with preferential taxation, the applicable rate is 20%. 4.4 Are there any tax grouping rules? Do these allow for relief in Kazakhstan for losses of overseas subsidiaries? 5.2 Is there a participation exemption for capital gains?

No, Kazakhstani tax law is not familiar with tax-consolidated group The term “participation exemption” is not used in Kazakhstani rules and relief for losses of overseas subsidiaries. tax law. However, the law envisages exemption from taxation for capital gains derived from disposal of shares or participation interest in the charter capital of the local legal entity, providing the following 4.5 Do tax losses survive a change of ownership? requirements are met: Yes, if a shareholder(s) of a legal entity changes, tax losses remain 1) shares are listed on the Kazakhstan Stock Exchange on the day of disposal; and with the legal entity. 2) all the following conditions are met: ■ the shareholder is not resident in the country with 4.6 Is tax imposed at a different rate upon distributed, as preferential taxation; opposed to retained, profits? ■ on the date of sale the shareholder has owned the shares or participation interest for more than three years; No, the income to be distributed or retained is taxed equally at the ■ the legal entity whose shares or participation interest are same . sold, is not a subsurface user; and ■ more than 50% of the legal entity whose shares or 4.7 Are companies subject to any significant taxes not participation interest are sold, is not owned by a subsurface covered elsewhere in this chapter – e.g. tax on the user(s). occupation of property?

The main taxes and payments that can be paid or withheld by a 5.3 Is there any special relief for reinvestment? taxpayer are as follows: No, there is no tax relief for reinvestment. 1) Corporate income tax, including branch net income tax, withholding taxes.

154 WWW.ICLG.CO.UK ICLG TO: CORPORATE TAX 2016 © Published and reproduced with kind permission by Global Legal Group Ltd, London GRATA Law Firm Kazakhstan

Domestic law also states that the foreign legal entity has to tax 5.4 Does Kazakhstan impose withholding tax on the income earned outside Kazakhstan, providing that this income was proceeds of selling a direct or indirect interest in local earned through the Kazakhstan branch. Taxable income of the assets/shares? branch is determined in the same way and taxation is based on the same rules as apply to the subsidiary. Generally, capital gains derived by a non-resident from: ■ a sale of assets, property (and rights on them) located in Kazakhstan; 6.4 Would such a branch be subject to a branch profits tax (or other tax limited to branches of non-resident ■ shares issued by, and participation interest in, a resident legal companies)? entity; and ■ shares issued by a non-resident legal entity, if 50% or more of

Yes, the branch’s net income after payment of corporate income tax, Kazakhstan their value comprises assets of subsurface users in Kazakhstan, is subject to the branch net income tax. are subject to withholding tax at the rate of 15%, unless a specific exemption is applied. 6.5 Would a branch benefit from double tax relief in its jurisdiction? 6 Local Branch or Subsidiary? Yes, the 15% rate of the branch net income tax can be reduced under the applicable double tax treaty to 5% or 10%. 6.1 What taxes (e.g. capital ) would be imposed upon the formation of a subsidiary? 6.6 Would any withholding tax or other similar tax be imposed as the result of a remittance of profits by the Contributions into the charter (equity) capital of a subsidiary are not branch? subject to taxation.

No, remittance of profit by the branch to its foreign head office is 6.2 What is the difference, if any, between the taxation of not subject to taxation. a locally formed subsidiary and the branch of a non- resident company? 7 Overseas Profits Both a branch of a non-resident legal entity and a subsidiary are subject to taxation in accordance with the general requirements of Kazakhstani tax law. 7.1 Does Kazakhstan tax profits earned in overseas branches? A branch is treated as the of a non-resident legal entity for tax purposes in Kazakhstan. The tax regime applicable Yes, Kazakhstani legal entities are taxed on their worldwide income, to the branch, which is treated as a resident for Kazakhstan tax including income earned through overseas branches. purposes, is similar to the general tax regime applicable to Kazakh legal entities, i.e. subsidiaries, in most respects. Branches are subject to all taxes and tax reporting requirements under the general 7.2 Is tax imposed on the receipt of dividends by a local terms and conditions established by Kazakhstani tax law. Branches company from a non-resident company? are also required to comply with the accounting requirements. No, dividends received by the local company from the non-resident It should be noted that a branch is not a separate legal entity, subsidiary can be exempted from taxation in Kazakhstan. but an extension of the foreign head office operating in another jurisdiction. Thus, the branch of a foreign legal entity is taxed on its Kazakhstani-sourced income, i.e. income attributable to the branch, 7.3 Does Kazakhstan have “controlled foreign company” while a subsidiary is taxed on its worldwide income. rules and, if so, when do these apply? The taxable income of a branch is subject to corporate income tax at the rate of 20%. In addition to corporate income tax at the rate of Yes, these rules apply. Under the “controlled foreign companies” 20%, a branch is subject to tax on the net income of the branch after regime, a Kazakhstan tax resident may be taxed on a portion of the income tax, generally at the rate of 15%, resulting in an effective undistributed profits of certain non-resident companies registered or income tax rate of 32%. However, this effective income tax rate can placed in a country with preferential taxation, and in which such be reduced by an applicable double tax treaty. The branch profits Kazakhstan tax resident has, directly or indirectly, 10% or more of tax is due within 10 days from submission of the annual corporate the charter capital or voting shares. income tax declaration, regardless of whether net income was actually distributed to the foreign head office; while the subsidiary 8 Taxation of Real Estate pays withholding tax on dividends only upon its distribution to shareholders. 8.1 Are non-residents taxed on the disposal of real estate in Kazakhstan? 6.3 How would the taxable profits of a local branch be determined in its jurisdiction? Yes, capital gains derived by a non-resident from the sale of real estate Generally, the branch of a foreign legal entity is taxed on its in Kazakhstan, are subject to withholding tax at the rate of 15%. Kazakhstani-sourced income, i.e. income attributable to the branch.

ICLG TO: CORPORATE TAX 2016 WWW.ICLG.CO.UK 155 © Published and reproduced with kind permission by Global Legal Group Ltd, London GRATA Law Firm Kazakhstan

8.2 Does Kazakhstan impose tax on the transfer of an 10 BEPS and indirect interest in real estate located in Kazakhstan and, if so, what constitutes an indirect interest? 10.1 Has Kazakhstan introduced any legislation in response to the OECD’s project targeting Base Kazakhstani tax law does not envisage the concept of indirect Erosion and Profit Shifting (BEPS)? interest or a similar concept. The legal title on the real estate can be indirectly held through a No; as the Ministry of National Economy has informed, Kazakhstan specially established Kazakhstani entity. Transfer of the title in the has not developed or introduced provisions against Base Erosion real estate via transfer of shares in the entity, can result in withholding and Profit Shifting. tax at the rate of 15%, if a capital gain arises. Exemption from taxation Kazakhstan of capital gains can be applied. 10.2 Does Kazakhstan maintain any preferential tax regimes such as a patent box? 8.3 Does Kazakhstan have a special tax regime for Real Estate Investment Trusts (REITs) or their equivalent? No, there are no such tax regimes.

Kazakhstani law is not familiar with the concept of Real Estate Investment Trusts or equivalent entities. In Kazakhstan the property estate can be managed under the Agreement of Trust Management, whereas legal title on the property remains with a trustor. Fulfilment of tax obligations on property under the trust management agreement can be shifted onto a trustee, if it is stipulated by provisions of said agreement. No special tax regime for the trust management agreement is stipulated. Assel Ilyassova GRATA Law Firm 9 Anti-avoidance 104, M. Ospanov Street Almaty, 050020 Kazakhstan

9.1 Does Kazakhstan have a general anti-avoidance or Tel: +7 701 763 07 14 anti-abuse rule? Email: [email protected] URL: www.gratanet.com No, Kazakhstani tax law does not envisage general anti-avoidance rules. In 2003, Assel graduated from the Kazakh Humanitarian and Law Institute (Almaty, Kazakhstan) with a Bachelor’s degree. In 2009, she 9.2 Is there a requirement to make special disclosure of received a Master’s Degree in Law from City University (London, UK). avoidance schemes? At present, Assel is a Partner and the Head of the Tax and Customs Law Department at GRATA Law Firm, having joined the firm in 2006. No, Kazakhstani tax law does not provide for obligations to make Previously, Assel worked in the Almaty City Tax Authority as a Senior disclosure of avoidance schemes. At the same time, the whole Tax Inspector in charge of legal support of the Tax Committee, including transaction, if it relates to Kazakhstan subsurface use, should be representation of its interests in court. disclosed before the Kazakhstan Government for the purpose of In 2004, Assel was declared the best officer of the Almaty City Tax compliance with the requirements of state control and the realisation Committee and in 2006, the highest performing employee of GRATA Law Firm. of the Government’s pre-emptive right.

For more than 20 years GRATA Law Firm has collaborated with international and local companies in all sectors of the economy, contributing to the organisation and success of their activities in the region. We offer a full range of legal services to assist and advise our clients. Our high level of performance is acknowledged by our clients and confirmed by high ratings in respectable publications, such as The Legal 500, Chambers and Partners, Who’s Who Legal and many others. GRATA’s IP specialists successfully combine theory and specific case practice in the area of intellectual property, with a focus on the protection of our clients’ rights. Our reputation is based on our ability to provide a wide range of legal services across the CIS (former Soviet) region, our extensive network of branches and representative offices, as well as on the expertise of our highly qualified lawyers, who perform legal services in accordance with international standards, and our flexible payment system.

156 WWW.ICLG.CO.UK ICLG TO: CORPORATE TAX 2016 © Published and reproduced with kind permission by Global Legal Group Ltd, London Current titles in the ICLG series include:

■ Alternative Investment Funds ■ International Arbitration ■ Aviation Law ■ Lending & Secured Finance ■ Business Crime ■ Litigation & Dispute Resolution ■ Cartels & Leniency ■ Merger Control ■ Class & Group Actions ■ Mergers & Acquisitions ■ Competition Litigation ■ Mining Law ■ Construction & Engineering Law ■ Oil & Gas Regulation ■ Copyright ■ Patents ■ Corporate Governance ■ Pharmaceutical Advertising ■ Corporate Immigration ■ Private Client ■ Corporate Recovery & Insolvency ■ Private Equity ■ Corporate Tax ■ Product Liability ■ Data Protection ■ Project Finance ■ Employment & Labour Law ■ Public Procurement ■ Enforcement of Foreign Judgments ■ Real Estate ■ Environment & Climate Change Law ■ Securitisation ■ Franchise ■ Shipping Law ■ Gambling ■ Telecoms, Media & Internet ■ Insurance & Reinsurance ■ Tr a de Marks

59 Tanner Street, London SE1 3PL, United Kingdom Tel: +44 20 7367 0720 / Fax: +44 20 7407 5255 Email: [email protected]

www.iclg.co.uk