MINISTRY OF STATE REVENUE OF KAZAKHSTAN TO GRANT A RESPITE TO PARTICIPANTS OF THE STOCK MARKET IN PAYING VAT ON TRANSACTIONS WITH SECURITIES

/IRBIS, Feb.14, 00/ - Today the agency IRBIS received a copy of the resolution of the government of Kazakhstan #207 "On measures of stabilizing the stock market of Kazakhstan", dated February 11, 2000 which solves the most pressing question of the professional participants of financial market of the country. Following is full text of the resolution. Beginning of the quote To support the liquidity of the securities and maintain the attractiveness of the investors' activities on the stock market of the country the Government of Kazakhstan ENACTS: 1. Heads of regional administrations to provide the Ministry of state revenue of Kazakhstan, in accordance with the supplement, with petitions of local executive bodies on granting a respite to the taxpayers of VAT on transactions with securities. 2. The Ministry of state revenue of Kazakhstan with coordination of the Ministry of finance of Kazakhstan in accordance with the orders set forth by applicable law to provide a respite to participants of the stock market in paying VAT on transactions with securities from January 1 through June 1 of current year as soon as it begins to receive petitions from local executive bodies. 3. This resolution comes into effect from the day it was signed. End of the quote The resolution was signed by the Prime-minister of Kazakhstan K.Tokaev. Comments: The text was composed based on the copy of the Resolution by the specialists of IRBIS for specific needs and purposes of its clients. The agency IRBIS is not liable for any consequences of using the wording and regulations contained in this electronic version of the text of the Resolution, for using this version of the text of the Resolution as a grounds for or for any omissions in the text of the Resolution.