Subsoil users are the separate category of taxpayers with their own tax regime different from the standard one.

As a result, tax advising of subsoil users requires specific knowledge and relevant experience which is what GRATA International possess.

We are glad to advise the subsoil users on the following:

  • advising on issues of calculation and payment of taxes and special payments of subsoil users including excess profit tax, mineral tax and bonuses;

  • advising on issues of tax stability regarding the prior tax law and its interaction with the requirements of the current tax law;
  • advising on maintenance of separate tax accounting;
  • advising on issues of taxation and tax planning of M&A transactions in subsoil area.

  • consulting an oil company to assess excess profit tax, especially in relation to issues of separating contract and non-contract activity to make changes and additions in a subsoil use contract;
  • development of a  calculating excess model for profit with contract’s peculiarities for subsoil use for an oil company;
  • analysis of tax regime under subsoil use contract, providing advice on calculation and payment of taxes and special payments of subsurface users for past tax periods;
  • prepare terms on VAT issues related to exploration operations for a major foreign subsurface users;
  • consulting subsoil users operating under Production Sharing Agreements in relation to revaluation of their fixed assets in accounting and taxation records;
  • consult on optimisation of repayment of loans on the basis of specifics of tax regime;
  • analysis and calculation of excess profit tax, commercial discovery bonus, and subscription bonus, with recommendations for optimization of tax liabilities;
  • consultation of a national subsoil company concerning deduction from total annual income of expenses suffered on payment of the export customs duty;
  • consultation of a large foreign subsoil user company concerning tax and customs obligations, and also assessment of tax risks during transactions with raw materials processing and export of processed products outside of the Customs Union territory;
  • identifying potential risks associated with the use of repealed tax legislation in connection with the current tax practice.
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23.10.2018

GRATA Azerbaijan participated at the Joint AmCham/BCC Career Fair

On 5 October 2018 Joint AmCham/BCC Career Fair was held in Baku, Azerbaijan. 
 

22.10.2018

Trademark protection in Mongolia

The exclusive rights of the trademark holder will be granted or entitled when the trademark is officially registered with the General authority of Intellectual property and trademark certificate is issued. 

18.10.2018

Agricultural business in Kazakhstan and opportunities for Islamic finance

Agriculture is one of the most attractive sectors of Kazakhstan’s economy. Kazakhstan has approximately 24 million hectares of arable land and 188 million hectares of pasture.

15.10.2018

Gulnur Nurkeyeva attended Investment and Financing Innovation Law & Commerce Forum

On 11-14 October 2018 Elite Global Legal Alliance (EGLA) held its Fourteenth General Meeting & Investment and Financing Innovation Law & Commerce Forum.

02.10.2018

Yerbolat Yerkebulanov gave a presentation to Malaysian suppliers of goods and services to O&G subsoil users

On 28 September 2018 An Export Acceleration Mission for Oil, Gas and Energy in Almaty, Kazakhstan was held.

 

Ibragim Kouky, the Senior Associate at Contract and Real Estate Department participated in the joint FIDIC/ICC Conference

Ibragim Kouky, the Senior Associate at Contract and Real Estate Department participated in the joint FIDIC/ICC Conference (International Federation of Consulting Engineers and International Chamber of Commerce).

 

24.09.2018

Introduction of 2nd 2017 Edition of FIDIC Forms of Contracts

In 2017 the International Federation of Consulting Engineers has introduced major amendments to FIDIC 1999 Yellow, Red and Silver Books which have been in use in the construction industry for almost twenty years.

21.09.2018

Bakhyt Tukulov gave a presentation about Dispute Resolution at the AIFC

On 20 September 2018, CCI France-Kazakhstan (CCIFK) held a monthly meeting.

20.09.2018

Ministry of Finances of the Republic of Belarus Specified Dates of Completing Business Operations

Amendments concern business operations relating to performance of works, rendering services and lease relations.

While rendering services, which results the customer can use during the term of the agreement, the date of completing this business operation shall be:

  • last calendar day of each month of provision of services and the last day of provision of services – if the term of the agreement exceeds one month;

  • last calendar day of the month, when provision of services is started, and (or) the day of completing of provision of services – if the term of the agreement does not exceed one month.

20.09.2018

Law of the Republic of Kazakhstan On Concessions (unofficial English translation)

This Law determines legal conditions of concession, types of state support of concessionaire and regulates social relations arising during conclusion, execution and termination of concession agreements.

20.09.2018

Law of the Republic of Kazakhstan On Public-Private Partnership (unofficial English translation)

This Law determines legal conditions of public-private partnership, ways of its implementation, and regulates social relations arising during preparation and implementation of public-private partnership projects, execution, performance and termination of public-private partnership agreements.

18.09.2018

Gulnur Nurkeyeva took part at the 10th China Overseas Investment Fair (COIFAIR)

With the approval of the National Development and Reform Commission (NDRC) of the People’s Republic of China, the 10th China Overseas Investment Fair (COIFAIR) was held at the China National Convention Center, PRC on 15-16 September 2018.

14.09.2018

Gulnur Nurkeyeva delivered a speech at Duane Morris & Selvam Ambassador Series

On 12 September 2018 Duane Morris & Selvam law venture held Ambassador Series dedicated to Kazakhstan event in Singapore.

13.09.2018

#NEARFOOTBALL or What a Sports Lawyer Should Know

As football developes and becomes more popular in Kazakhstan, the legal relationships and arrangements of the parties involved increasingly require compliance with legal formalities. A professional club, sportsman, coach and federations are guided by regulations approved by the international sports organisations and/or concluded contracts.

13.09.2018

Kazakh privatisation: a fresh start

Although the Kazakhstan securities market is the most developed in Central Asia, its development has been slow compared to the country’s banking sector.

10.09.2018

Shaimerden Chikanayev was among the panellist at the IBA ECA Forum 2018

On 5-7 September 2018, a IBA Europe-Caucasus-Asia Forum 2018 was held in Almaty.

10.09.2018

How to incorporate a company or representative office in Mongolia?

Despite the fact that Mongolian legislation provides for a wide range of legal forms of commercial entities (limited liability company or LLC, joint-stock company or JSC and joint venture), in practice, private businessmen and foreign investors mostly prefer LLC or JSC. Representative office of foreign legal entities is also common

05.09.2018

Land Law of the Republic of Belarus

Land relations can be a crucial issue for foreign investors considering whether or not to start a business in a particular country. Let us provide you with a summary of land legislation of Belarus and the opportunities it offers for business.

12.09.2018

Dmitry Samigullin spoke on Business setup in Russia in Zurich

Dmitry Samigullin spoke on Business setup in Russia in Zurich.

04.09.2018

Administration of Almaty has officially announced public tender for participation in Almaty Light Rail Transport (LRT) Project

On 29 August 2018, the Administration of Almaty (Almaty Mayor’s Office) has officially announced the public tender for participation in PPP project for development of design specification, construction, commissioning, financing, operation and technical maintenance of Almaty Light-Rail Transportation System (the “Project”).

27.08.2018

Major Kazakhstan Legislation Changes for 2017

The Law on Amendments Intended to Improve Business Conditions[1] (the “Business Improvement Law”) came into effect on 12 March 2017, except certain provisions.

The purpose of the Business Improvement Law is to further improve the investment climate in line with the general policy of the country to support local entrepreneurs and foreign investors.


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Assel Ilyasova

Partner, Head of Tax Law Department

Almaty

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