Kazakhstan plans to tighten the liability of commodity exchanges and their participants. Kazakhstan Prime Minister Alikhan Smailov ordered changes to the Administrative Offenses Code. Web site Kazakh government.
At the government meeting, he said that the country’s legislation on commodity exchanges has changed twice in the last 5 years, but they still cannot fully fulfill their functionality in the market.
According to him, one of the main problems in the development of this activity in general is the use of commodity exchanges by “subsoil users” for their needs. The Prime Minister emphasized that another problem is that commodity exchanges are classified as micro business entities, which allows them to make extremely low tax deductions and avoid audits.
“Alikhan Smailov instructed to reach agreement within 2 days on a draft government decision on a draft law on foreign exchange trading issues, to work on increasing the information security of commodity exchange software taking into account international standards and to develop a package of changes. The message states that it is necessary to add to the Code of Administrative Offenses to tighten the liability of commodity exchanges and their participants.
President of Kazakhstan Kassym-Jomart Tokayev in September changed The commander-in-chief of the ground forces of the country’s armed forces appointed Asan Zhusupov to this post.
Previously Tokayev stated About Kazakhstan’s intention to develop comprehensive cooperation with the Russian Federation.