ITIC-EEC Meeting in Moscow

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ITIC’s Mukhit Akhanov met this week in Moscow with Timur Suleimenov, Minister of Economy and Finance of the Eurasia Economic Commission (EEC), who has recently been reappointed for a second four-year term to begin on 1 February. The EEC chairmanship will pass from Russia’s Vitkor Khristenko to former Armenian Prime Minister Tigran Sargsyan on 1 February 2016, and a restructuring of the EEC Secretariat is expected by mid-March. New member states Kyrgyzstan and Armenia are expected to assume important positions among the EEC leadership, perhaps the portfolios pertaining to oil and gas and customs policy.

During the planning discussion for 2016, Minister Suleimenov confirmed his participation in the Eurasia Tax Forum in The Hague in June 2016 and in other ITIC programs throughout the year.

Tax and Investment: International Comparisons

Introduction

Since initiating a comparative study of potential investment destinations in Eurasia in the mid-1990s, ITIC also reviews comparative annual studies of economic performance conducted by the World Bank (the “Doing Business” Report), the EBRD (Transition Report), the World Economic Forum (Global Competitiveness Report), the Heritage Foundation (Index of Economic Freedom), the Fraser Institute (Economic Freedom of the World), IMD Lausanne (World Competitiveness Yearbook), and the Legatum Institute (Prosperity Index), among others. Continue reading “Tax and Investment: International Comparisons”

ITIC-Endorsed Event: Tax Policy Symposium in Washington, DC

Over the years, ITIC has cooperated with the Tax Council Policy Institute (TCPI), a Washington, DC, association of top corporate tax officers. The Tax Council organizes high-quality events that bring together excellent speakers addressing the most relevant current and future taxation issues.

We thought that you and/or your colleagues might be interested in attending their upcoming 17th Annual Tax Policy & Practice Symposium, Capital Matters: How Taxes Influence the Global Creation, Deployment, and Mobility of Capital, on 11-12 February at the Ritz-Carlton in Washington, DC. For the most up-to-date information on the conference, including how to register and the program agenda, please click here.

For quick reference, the conference brochure can be viewed here.

ITIC Establishes Presence in Africa

ITIC has strengthened its presence in Africa by launching an affiliate office in Lagos, Nigeria with Mr. Reggie Mezu, a long-time ITIC Senior Advisor, who will serve as ITIC’s Africa representative and lead ITIC’s growing programs in the region.

ITIC President Daniel Witt said, “Sub-Saharan Africa represents one of the fastest growing regional economies in the world. The tax, regulatory and governance challenges are among the biggest obstacles to unleashing further growth and development.”

Reggie Mezu added, “Having an ITIC presence in Africa will provide a strong platform to build new partnerships with public-sector stakeholders and industry groups to further advance ITIC’s missions and programs throughout Africa.”

Kazakh Supreme Court Specialized Board on Investor Disputes

The Supreme Court of Kazakhstan has announced the creation on a new Specialized Board to Resolve Disputes with Large Investors. In a recent television interview, Aigul Kadyrbayeva, Supreme Court Judge and Chair of the Specialized Board, said that the Board will consist of 7 Judges from the Supreme Court who have long-term experience in resolving investor disputes and are familiar with international judicial practice. Continue reading “Kazakh Supreme Court Specialized Board on Investor Disputes”

Kazakhstan: Retail Sales Tax

On 28 December 2015, Kazakh Minister of National Economy Yerbolat Dossayev conducted a briefing for Members of Parliament in the Kazakh Majilis in which he formally announced that the Kazakh Government has decided to replace the Value-Added Tax (VAT) with a Retail Sales Tax (RST).

He indicated that the draft package of changes and amendments to the Tax Code will be submitted to the Parliament by 1 September 2016. This draft package will contain proposals to replace VAT with RST and unify the Tax and Customs Codes into one Code.