Deloitte in the News
News, comment, publications
Deloitte experts share their vision, experience and expert opinion with the media on the Kazakhstan market and economy, as well as current & future industry trends.
Deloitte anniversary–it’s only just beginning!
Kyrgyzstan Managing Director Kanyshai Sadyrbekova gives an interview to IBC.kgto talk about the Firm’s activities and its 15thanniversary in the country.
Accountants and managers can be replaced by robots
Consulting Department Senior Manager Sergey Goncharov talks to LSabout how he thinks the new wave of robotisation will replace humans not only in industry, but also in offices.
Legal Department Manager Viktoriya Tyan shares her expert opinion on electronic document management for the Kazakh TVchannel’s Digital Kazakhstan programme. The programme will air in September.
Bank mergers in Kazakhstan: conditions dictate, not the market
Managing Partner Mark Smith and Senior Manager Bekhzod Artikov give their thoughts to Total.kzon the reasons why there have been no transaction “champagne moments”.
What you need to focus on when buying a company
Due diligence will help highlight any risks when investing in the purchase of a company, says Financial Consulting Department Senior Baurzhan Shalbayev.
Olesya Kirilovskaya, Legal Senior Manager, explains to National Business about the activities of General Service Centres, which have become a new trend, especially among international companies.
What everyone should know about tax returns
Universal declaration is coming to Kazakhstan. Zhuldyz Taitalyeva, Tax & Legal Senior, tells Kapital newspaper what is important to know to avoid falling foul of the new laws
Which sector is most prone to financial crime?
“The scope for embezzlement and fraud in the construction industry is immense. The industry has developed a large number of mechanisms for unscrupulous practices,” believes Rustam Mukhametshin, Financial Consulting Department Director Rustam Mukhametshin.
How did WannaCry get on in Kazakhstan?
The world learnt about the WannaCryvirus in May 2017. Managing Partner Mark Smith shares his thoughts with Forbes.kz about the creation of a Deloitte cyber-security team
A tough surgical operation is needed to remove corruption in Kazakhstan
According, to Financial Consulting Department Director Rustam Mukhametshin, companies lose anywhere between US$ 2 and US$ 100 million domestically in financial crimes.
How can a company generate profit, but have no cash?
Read extracts from an interesting discussion between Financial Consulting Department Senior Baurzhan Shalbayev and the co-owner of the retail network Kursiv.kz
Demand for luxury class goods falls in Kazakhstan after devaluation
Consulting Department Senior Manager Bekhzod Artikov shares his thoughts about the Kazakhstan luxury goods’ market with Total.kz.
Tax-related investment disputes: initial results
Elena Ryzhkova, Tax & Legal Department Senior Manager, talks to National Business about important changes in the court system affecting the investment climate.
Reduced Customs Duties Following Kazakhstan’s Accession to the WTO and Electronic Invoices – How They are Linked and What Kazakhstan Business Needs to Know about Them
Kazakhstan’s accession to the World Trade Organisation (WTO) is an important landmark in the country’s history – the completion of a negotiation process that has helped Kazakhstan integrate fully into the global community. One of those integration measures was Kazakhstan’s approval together with Eurasian Economic Union (EAEU) members of a list of goods (WTO List) on which Kazakhstan will apply reduced customs duties (WTO Rates) when importing them from outside the EAEU.
By Sholpan Dossymkhanova, Deloitte Tax & Legal Department Manager.
Will SEZ Become more Attractive for Investors in Light of New Amendments to Tax Law?
Reducing tax burdens and tax liabilities have always been important issues for entrepreneurs and organisations. However, today’s companies only have a few tools at their disposal provided by civil, employment and tax law to reduce or defer taxes.
By Aizhan Akimgereyeva, Deloitte Tax & Legal Department Manager.
Oil and Gas Industry Overview: Naturally Resourceful
Anthony Mahon, Tax Partner, Deloitte Caspian Energy & Resources Leader, has provided an overview of top issues facing the oil and gas sector. Read more in the World Finance Review magazine.
Rising to the challenge
Mark Smith, Managing Partner of Deloitte in Kazakhstan, explains how economic diversification and strong regulations are the key to surviving the global financial crisis. Read the full article on The Business Year.
Central Asian Information Security Survey Results (2014)
World Finance Review - May 2015 issue
Insight into the Information Security Maturity of Organisations, with a Focus on Cyber Security By Michiel Van Hulsteijn, Senior Enterprise Risk Manager.
“Although the number of publicly known cyber attacks appears to be small, this does not mean that organisations in the region are immune, and could ever be existing under a false sense of security. Given global trends and the increased number of attacks and attention given to cyber security, it could very well be that Central Asia may become the next target for hackers in the near future. When - not if - this happens, organisations need to be prepared”.
Read more on the World Finance Review website.
How will Eurasian Economic Union Membership Affect Business in Kazakhstan?
World Finance Review - May 2015 issue
The Deloitte Legal experts Viktoriya Tyan and Agaisha Ibrasheva discuss how Eurasian Economic Union membership affect business in Kazakhstan from the legal perspective.
Read more on the World Finance Review website.
Innovation Boost “NIF$50K” overview
The competition final took place on 24 October. The winner, Professor Abilaykhan Karakayev received a prize of 7.5 mln KZT for his innovative diesel usage solution.
As an official consulting partner and business trainer during the project, Deloitte experts Agaisha Ibrasheva, Daulet Kuatbekov and Pert Polyakov did a great job consulting and offering advice to all of the finalists. Each competition session was shown in the TV show Innovation Boost “NIF$50K”. The participants and winners thanked the business trainers and experts for their valuable help.
Click here to see the playlist with all TV episodes.
The situation on the world oil and gas market (p. 32-34)
Find the Deloitte’s review of the situation on the world oil and gas market is the #4 (45) World Monitor issue & learn how new supply sources such as shale production in the US, production growth in Canada, Mexico, Brazil and Kazakhstan and greater competition for demand, particularly in Asia Pacific, will reshape the global oil and gas markets and geopolitical landscape, creating greater interdependencies among nations.
Kazakhstan Introduces Investment Incentives to Increase Capital Inflow
On 12 June 2014, the Kazakhstan President ratified a new Law aimed at bringing about significant improvements in relation to Kazakhstan’s overall investment climate (the new “Incentives Law”). Deloitte Caspian Tax experts reviewed the exemptions and incentives that come along with the newly introduced law.
Download the PDF of Kazakhstan Magazine to read the article.
Accounting and Taxation Overview
Anthony N Mahon, Partner, Cross Border Tax, Deloitte Caspian region gave an overview of taxation and accounting regimes in Kazakhstan.
Download the PDF of World Finance Review magazine to read the article.
Taxation should stimulate the investor
At the end of April, Deloitte held a roundtable in Almaty dedicated to the "corporate taxation in the mining industry". The roundtable was attended by London Partner James Ferguson, who kindly agreed to provide an interview to the Kazakhstan journal (No. 3/2014)
The positioning of the financial regulator in Almaty is justified
According to Mark Smith, Deloitte Caspian Region Managing Partner, Almaty, as Kazakhstan's financial centre, has the required infrastructure to become the financial centre of the Eurasian Economic Union. You can find more details in his interview for Bnews.kz
Read the article on bnews.kz
VAT on prepayments – a negative or positive development for service providers?
Deloitte tax experts take a look at VAT on prepayments, whether it is a negative or positive development for service providers.
Download the PDF of the New Business Year Magazine 2014 edition.
Accountancy Number Crunch
Anthony Mahon, Partner Cross Border Tax at Deloitte, provides a brief overview of the key things you need to know when approaching the Kazakhstan market.
Burning questions regarding tax and ecological law
The legislative base in Kazakhstan, a country whose economy depends greatly on the raw materials sector, has its special characteristics, such as the strict regulation of subsoil use activities.
Subsoil use regulation
"Does your company apply tax and ecological law in terms of subsoil use correctly?", ask Deloitte Legal Partner Agaisha Ibrasheva and Olesya Kirilovskaya Legal Manager.
Doing business in Kazakhstan
Kazakhstani economy is open to investors, but establishes some restrictions in certain areas (having strategic significance for the economy of the country, i.e. in the oil and gas, telecommunication sector). Foreign investors may invest in any sector, with equity limits in only a handful of sectors. Deloitte experts consider the practical issues of creating and doing business in Kazakhstan.
Customs Union: "customs" view from Kazakhstan (three years later)
Deloitte experts address main advantages and problems of the Customs Union between Russia, Kazakhstan and Belarus based on its research of the business community views.
The Tenge has fallen
What will life be like after the devaluation - Vladimir Kononenko, Partner in Charge of the Deloitte Caspian Regional Tax & Legal Department gives his views in an interview with AND.kz
Changes in the Tax Code 2014
For taxpayers, New Year is a time for tax law changes. Dilya Osmanova, Tax & Legal Department Partner, shares information on the latest changes to tax law in an interview with World Monitor.
Draft Customs Code of the Eurasian Economic Union. View of the business community
Sholpan Dossymkhanova, Deloitte Caspian Region Tax & Legal Department Manager, spoke at the Astana Economic Forum about the draft Eurasian Economic Union Customs Code and shared the thoughts of the business community on it. You can see the topics discussed by Sholpan here.
General declaration of the assets and income of Kazakhstan nationals
The introduction of the general declaration of income and assets for Kazakhstan nationals is currently a very hot topic. In this series of articles, Deloitte Caspian Region tax and legal experts discuss the main changes made to the Tax Code in relation to the general declaration of income and assets. We will analyse stage-by-stage the various amendments to current tax law and also consider examples from global experience.
Cyber attacks: non-virtual threats for your business
The digital revolution and social networks stimulate business development and growth like nothing else, but also expose us to cyber attacks. Manuel Hutama, Head of consulting department, shared his thoughts with Vlasti on how to improve your business's and company's position and not get caught out by cyber criminals. Read the article on vlast.kz
What does tomorrow have in store for us?
"First of all, scientific research is the basis for innovation. Kazakhstan provides a whole range of possibilities to create innovative ideas. They are mainly related to IT-technology. Daulet Kuatbekov, Deloitte Audit Partner provided his comments to the AND.kz
Kazakhstan's investment climate has improved significantly in the last three years
Mark Smith, Deloitte Caspian Region Managing Partner commented on the investment climate in Kazakhstan compared to that in 2011, and also considered the steps taken by the Kazakhstan Government to improve the country's investment attractiveness. Read his interview Bnews.kz
Eurasian Economic Union members interested in investing in Kazakhstan projects
In an interview for Bnews.kz, Deloitte Caspian Region Managing Partner Mark Smith considered the advantages for the national economy of Kazakhstan's entry in the Eurasian Economic Union.
Business losses from external and internal fraud
Almaty hosted the Eurasian Business Forum on 17-18 April. One of the themes of the forum and also the Deloitte master class was corporate internal and external fraud. Alexander Sokolov, head of the Deloitte CIS forensic group, and Natalia Golovchenko, forensic group manager, gave more details of their work in the SMRK (РЦБК) magazine (No. 4/2014).
Corporate governance in Russian and Kazakhstan companies
Within the framework of the Eurasian business forum held in Almaty on 17-18 April, Deloitte representative Oleg Shvyrkov gave a presentation on corporate governance practice in companies in Russia and Kazakhstan.
A crisis of trust
On trust between investors and management, and also on effective measures to prevent fraud - in an interview with Alexander Sokolov, partner and leader of the Deloitte CIS Financial Forensic Group for the Business & Vlast magazine.
Growth in the domestic economy
The largest growth for the year (May 2013 against May 2012) was seen in sectors such as trade, communication and transport. It seems that the average Kazakhstan national likes to travel by taxi, go shopping and talk on their mobile phone. Consulting Department expert Aldongar Nurpisov gave his thoughts on the subject in an interview to AND.kz in June 2013
The current situation in audit and taxation in Kazakhstan
Deloitte Caspian Regional Managing Partner Mark Smith talks about the current situation in audit and taxation in Kazakhstan in an interview with Interfax-Kazakhstan. The interview was published on the Interfax-Kazakhstan site in March 2013.
A professional services supplier
Deloitte is more and more becoming well known as a supplier of professional services, which is why its strategy is changing, says Caspian Region Managing Partner Mark Smith in an interview with Business & Vlast (8/12).
Current trends in the investment and business climate in Kazakhstan
EUROBAK Chairman Mark Smith shares his views on current investment trends and the importance of the further diversification of the Kazakhstan economy with the World Monitor magazine.
Address to EUROBAK readers
Address by EUROBAK Chairman Mark Smith, in which he shares the latest news on the recent VI Astana Economic Forum.
Kazakhstan's investment attractiveness
Kazakhstan, like many countries, has felt the full consequences of the global financial crisis. Nevertheless, the national economy recovered sufficiently quickly after the crisis and has been showing stable growth. According to analysts, at the end of 2012 and 2013, GDP will grow by 5.8% and 6.3% respectively. Undoubtedly, the economy has suffered, but on the whole Kazakhstan has managed to position itself as a country with great potential to attract investors. Learn more in the article published in the World Monitor publication for 2012.
Is it hard for women to be successful in the Big Four?
How easy is it for women to be successful in the Big Four? Agaisha Ibrasheva, a Tax & Legal Department Partner and Dina Tasbulatova, a Corporate Finance Department Partner explain their thoughts on this in an interview for ExpertOnline.kz
The Rules of living in Kazakhstan
Mark Smith, Deloitte Caspian Region Managing Partner shares his thoughts on living and working in Kazakhstan as an expat with Esquire.kz readers.
Onshore/offshore contract structures: challenges for the oil industry
Deloitte has provided his expert opinion in an article entitled Onshore/Offshore contract structures: challenges for the oil industry of the Investor's Voice magazine.
Eye on the Market
"The LP offers an easy means of enjoying a legitimate business structure in Kazakhstan without all the additional requirements of a joint-stock venture", Mark Smith, Managing Partner, Deloitte Caspian on challenges in Kazakhstan for new businesses.
Goals for EUROBAK in 2014
Eurobak Chairman and Deloitte Caspian Region Managing Partner, Mark Smith shares his business plans and goals for 2014
Practical aspects of setting up and running a business in Kazakhstan
We are pleased to present you Let's go #2, 2014 issue where Deloitte experts, Agaisha Ibrasheva, Legal Partner and Karina Syzdykova, Legal Consultant, Legal Services department, are sharing their views about "Practical aspects of setting up and running a business in Kazakhstan"
New approaches to structuring foreign and local staff resources
A modern, innovative economy cannot be developed in conditions of total isolation. Advanced technology and new techniques in the fields of trade, money,human resources and modern financial instrument management are all necessary components of competitiveness in the global economy — in both the private and public sectors — and are all in constant need of foreign investment and qualified staff, which is sometimes difficult to find locally. For this reason, the ability to attract foreigners to work in Kazakhstan and, accordingly, structure their employment relations is becoming increasingly important.
You can read more in the article which was published inInvestor's Voice magazine in April 2013.
Current trends in Kazakhstan investment and business climate.
Mr. Mark Smith, EUROBAK Chairman, is sharing his views on current investment tendencies and the importance of further economic diversification in Kazakhstan.
You can read more in the article which was published in World Monitor, 2013
Kazakhstan in 2012: Moving Beyond the Crisis
Kazakhstan, Central Asia’s largest economy, got an early taste of the global financial crisis in 2007 but its moves to share losses with bank bondholders has helped it become one of the first to emerge from the other side. The government is trying to capitalize on its early lead by swiftly diversifying its economy beyond its traditional focus on natural resources, improving its investment climate and harnessing its location as a hub straddling China and Europe to keep foreign investment flowing.
You can read more in the article which was published in World Finance Review in March 2012.
The Kazakhstan opportunity
Kazakhstan, like much of the world, suffered its fair share from the global financial crisis, but the economy has come out the other side in a relatively healthy condition, enjoying robust real economic growth, with some estimates seeing GDP climbing by 5.8% and 6.3% in 2012 and 2013. There have been casualties, but Kazakhstan has managed to position itself as the Central Asian country of opportunity and the one to invest in.
You can read more in the article which was published in World Monitor, 2012
Ensuring the correct application of tax and environmental legislation to subsoil operations
We are pleased to present you World Monitor #4, 2013. Oil & Gas issue where Deloitte experts, Agaisha Ibrasheva, Legal Partner and Olesya Kirilovskaya, Legal Consultant, Legal Services department, are sharing their views about "Ensuring the correct application of tax and environmental legislation to subsoil operations"
Tax and environmental legislation on subsoil use
The legislative base of Kazakhstan, a country with considerable economic dependence on its extractive industries, has some unique features, particularly with regard to it's strict management of the activity of subsoil users.
You can read more in the article, which was published in KazService, 2013.