Uzbekistan partially compensates for the purchase of emergency and wind power plants
The Decree of the President of the Republic of Uzbekistan “On additional measures for the implementation of energy-saving technologies and the development of low-power renewable energy sources” No. УП-220 dated September 9, 2022 establishes that from October 1, 2022:
- Individuals will be able to purchase solar and wind power plants and solar water heating devices produced in the country with payment in installments without interest for 3 years;
- Part of the expenses of persons who installed such devices and paid their full cost are compensated from the Extra-budgetary Energy Saving Fund under the Ministry of Energy. The amount of compensation is from 5 to 50 basic calculation values (approximately from USD 137 to 1,364) and depends on the power of the device.
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We inform you that the Almaty office is moved to a new location: Esentai Tower Business Center, Al-Farabi Avenue 77/7, 10th floor, 050040
News and insights from GRATA International
On September 29, 2022, a conference on Fintech in countries of Eurasia: latest legal developments and major issues, with the participation of GRATA offices in Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan and Moldova will be held.
The conference starts at 11:00 (Moscow time).
The conference will be of interest to fintech companies that would like to enter the markets of Eurasian countries.
Over the past 10 years, the banking sector has experienced a serious tightening requirements. As a result, financial institutions began to lose competition to fintech companies that are not limited by capital requirements. Fintech companies can invest much more actively in technologies and new services; recently they have created services with a significantly larger number of points of interaction with the client than the classic banking business.
The rapid development of modern technologies has stimulated an increase in the need of users of financial services for their digitalization and contributed to the creation of financial technologies. And the creation of financial technologies, in turn, led to the need to develop a legislative framework that regulates their implementation and application.
Participation is free.
To view the program, please download by the link.
New edition of the instruction on registration of the currency agreement on the portal of the National Bank of Belarus
On October 1, 2022, a new edition of the Instruction No. 37, approved by the Board of the National Bank on February 12, 2021, comes into force.
The amended regulation established a number of innovations. Some of them are presented below:
1) We remind you that in order to register a currency agreement at the National Bank portal two conditions must be met simultaneously:
a) The amount (approximate amount) of monetary liabilities under such currency agreements is not specified or is equal to or exceeds the amount equivalent to 2,000 basic units (for individuals) and 4,000 basic units (for legal entities).
Amendments to the Tax Code of the Republic of Kazakhstan
On 12 July 2022 a number of amendments to the Tax Code of the Republic of Kazakhstan (the ‘Tax Code’) was introduced. Below you may find the most significant of them, which with certain exceptions come into effect on 1 January 2023.
On establishing the amount of fees for state registration
Decree of the Cabinet of Ministers of the Kyrgyz Republic dated August 23, 2022 No. 470 establishes the fees for state registration (re-registration) and registration of the termination of activities of legal entities, branches (representative offices).
Ways of reorganizing a company in the Republic of Moldova
Any company during its business must take decisions that will help to achieve the goals pursued. When the need arises to move to a new level of operation or take advantage of new opportunities, decisions related to the mode of operation are no longer enough, and then the need arises to change the very structure of the enterprise. This is achieved by reorganizing the company.
Legal regulation on obtaining workforce and specialists from abroad
As of the first quarter of 2022, 5463 citizens from 92 foreign countries are working under labor contracts in Mongolia. The number of foreigners working under labor contracts increased by 1,030 or 23.2 percent from the same period last year. 4,752 (87.0 percent) out of the foreign nationals employed under contract are men and 711 (13.0 percent) are women. 36.6 percent of foreigners working under labor contracts live in Ulaanbaatar, 5.8 percent in the West region, 5.3 percent in the Khangai region, 36.7 percent in the Central region, and 15.6 percent in the East region.
Uzbekistan defines procedure for certification of pharmaceutical products
The Minister of Health of the Republic of Uzbekistan adopted the Order “On Approval of the Rules for Certification of Pharmaceutical Products” under the registration No. 3386 dated September 12, 2022.
In accordance with the Rules for Certification of Pharmaceutical Products:
- certification of pharmaceutical products is carried out by accredited certification bodies.