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01.08.2023 TAJIKISTAN TAKES MAJOR STEP TOWARDS CASHLESS SOCIETY – FCHAIN
In a significant move aimed at promoting a modern and efficient financial system, the President of the Republic of Tajikistan, in Decree № 586 dated June 22, 2023, has introduced measures to expand cashless payments throughout the country. The decree, effective from August 1, 2023, outlines a series of steps that will not only boost the digital economy but also streamline financial transactions for both individuals and businesses…
02.08.2023 AZERBAIJAN IS A RISING GREEN ENERGY PLAYER IN EURASIA
Following the successful implementation of major international projects in the traditional energy sector, Azerbaijan is confidently forging a path towards becoming a significant supplier of “green” energy. By undertaking large-scale initiatives, including the establishment of a “green” energy zone in Karabakh and Eastern Zangazur, which were liberated from occupation, Azerbaijan aims to become a producer and exporter of alternative energy…
02.08.2023 FCHAIN CORPORATION DELIVERS OUTSTAFFING AND EOR SERVICES TO GLOBAL CONGLOMERATE, JT GROUP
FCHAIN Corporation, a leading global consulting company, is proud to announce its collaboration with JTI Group, a renowned international corporation. As of April 2023, FCHAIN’s Baku branch has been providing Outstaffing and Employer of Record (EOR) services to support JTI Group’s expanding workforce needs…
04.08.2023 INVESTMENT OFFICE’S “TÜRKIYE CENTURY INVESTMENT RECEPTIONS” IN EUROPE CONCLUDES WITH VIENNA EVENT
Vienna witnessed the successful conclusion of the initial round of the “Türkiye Century Investment Receptions” organized by the Investment Office as part of its commemorative roadshow to celebrate the 100th anniversary of the Republic of Türkiye. Held at the Turkish Embassy in Vienna, this event provided an up-to-date overview of Türkiye’s thriving investment environment and lucrative opportunities for the international business community. The reception saw distinguished speakers, including Ambassador Ozan Ceyhun and Investment Office President A. Burak Dağlıoğlu, who highlighted the importance of bilateral ties and the promising prospects for investors…
04.08.2023 Kazakhstan: News And Accounting Activities, August 2023
A new restriction will appear in the information system for receiving and processing electronic invoices: from now on, if an entrepreneur has violations, the Tax Authority may limit the issuance of electronic invoices until the violations are fully eliminated, which in turn essentially stops trading in the company…
On August 2, 2023, the State Employment Agency and the Young Accountants Association held a momentous event in the form of the “Accountant” vocational preparation course’s #CareerSuccess# certification award ceremony. The purpose of the event was twofold – to present the final reports of the graduating class for the current year and to hold an appreciation ceremony to honor their achievements. The ceremony was attended by representatives from the State Employment Agency and several private companies…
08.08.2023 GEORGIAN CITIZENS EMPOWERED TO SHAPE THEIR PENSION INVESTMENT PORTFOLIOS FROM AUGUST 6
In a move to provide greater flexibility and control over retirement savings, the Georgian government has announced that as of August 6, citizens will have the opportunity to select the investment portfolio in which their pension funds will be allocated. This significant shift marks the expiration of the initial five-year period since the implementation of the “Cumulative Pension” Law on August 6, 2018, during which citizens’ pension assets were exclusively invested in lower-risk portfolios. With the commencement of this new phase, individuals will have the choice to invest in three distinct portfolios, each varying in terms of risk and potential returns…
09.08.2023 FCHAIN CORPORATION’S FINANCIAL AND LEGAL CONSULTING SERVICES FOR BUSINESS EXCELLENCE
In today’s fast-paced and competitive business environment, companies face an array of challenges in establishing and maintaining a successful enterprise. Navigating the legal intricacies, optimizing financial strategies, and ensuring compliance with regulations can be daunting tasks for any organization. However, with the assistance of Financial Chain Corporation (FCHAIN), businesses can stride confidently towards success. FCHAIN is a global financial consulting company that excels in providing a comprehensive range of services to support and guide enterprises in their journey to excellence…
10.08.2023 JOIN FCHAIN AND BUILD YOUR CAREER!
Are you looking for a rewarding and fulfilling career? We are excited to welcome driven individuals like you to discover the wide range of career opportunities we offer. At FCHAIN, we believe in nurturing talent and providing a platform for you to achieve greatness in your chosen path…
11.08.2023 DOUBLE TAXATION AND TAX AVOIDANCE AGREEMENTS IN AZERBAIJAN: ENCOURAGING ECONOMIC COOPERATION
Double taxation, the simultaneous imposition of identical taxes on the incomes of legal and natural persons in different countries, can create significant challenges for non-residents—individuals and entities that do not permanently reside in their home country. Such non-residents often find themselves obligated to pay taxes both on the profits they earn in the country where they are physically located and on the basis of their citizenship. To alleviate this issue, countries enter into agreements to prevent double taxation, a move aimed at fostering economic collaboration and attracting investments. The Republic of Azerbaijan has signed such agreements with approximately 60 countries.
14.08.2023 TAJIKISTAN’S BOLD STEP TOWARDS A DIGITAL TAX FUTURE
In a significant move to enhance the ease and efficiency of tax reporting and payments, the Tax Committee under the Government of the Republic of Tajikistan has taken a major step forward by adopting an innovative approach. The committee aims to promote cashless payments, streamline tax reporting, and provide convenient electronic services for citizens and taxpayers. The introduction of mobile authentication through QR codes is set to revolutionize the tax payment process and create a more accessible and user-friendly platform…
16.08.2023 TURKEY ADJUSTS WITHHOLDING TAX RATES FOR SHARE-BUY-BACK TRANSACTIONS ON BORSA ISTANBUL
In a recent development that has significant implications for the Turkish corporate landscape, Presidential Decision No. 6791, published in the Official Gazette on 14 February 2023, brought about a notable change in the withholding tax (WHT) rates applicable to dividends resulting from share-buy-back transactions. The decision initially introduced a 0% withholding tax rate for dividends deemed as a result of share-buy-back transactions carried out by Turkish full tax-liable corporations. This move was met with enthusiasm and was seen as a step towards promoting investment and shareholder returns within the country…
In the heart of Dushanbe, the capital city of Tajikistan, FCHAIN Corporation’s branch stands as a beacon of excellence in the realm of consulting services. With an expansive suite of offerings designed to cater to the diverse needs of businesses, FCHAIN’s Tajikistan office has emerged as a strategic partner for enterprises seeking to navigate the complex landscapes of outsourcing, legal services, bookkeeping, taxation, human resources, and more…
17.08.2023 FCHAIN CORPORATION WITNESSES DYNAMIC TRENDS IN CHEMICAL EXPORTS BETWEEN TURKEY AND GEORGIA
FCHAIN Corporation, a leading global consulting company specializing in finance and legal services, closely monitors the recent developments in trade dynamics between Turkey and Georgia. In the period from January to July 2023, Turkey showcased a notable increase in the export of chemical products to Georgia, a trend that has captured the attention of trade experts and analysts alike…
18.08.2023 FCHAIN CORPORATION STRENGTHENS ECONOMIC TIES BETWEEN UZBEKISTAN AND AZERBAIJAN
FCHAIN Corporation, a globally renowned consulting company with branches in 14 countries, including Azerbaijan and Uzbekistan, continues to foster economic and cultural partnerships between these nations. With a focus on providing top-tier financial and legal services, FCHAIN has been instrumental in promoting the enduring business connections, shared traditions, and mutual understanding between the people of Uzbekistan and Azerbaijan…
18.08.2023 VANDEWIELE GROUP PARTNERS WITH FCHAIN CORPORATION’S TASHKENT BRANCH TO DRIVE GLOBAL GROWTH
FCHAIN Corporation, a global consulting company, is thrilled to announce that provides its services to Vandewiele Group, a pioneering textile machinery manufacturer with a rich history dating back to 1880. The collaboration sees FCHAIN’s Tashkent branch providing its exceptional services to support Vandewiele Group’s expansion efforts…
21.08.2023 KAZAKHSTAN: A NEW MANDATORY CONDITION FOR FOREIGN CITIZENS IN EMPLOYMENT
An additional condition has been introduced in the Labor Code, and from now on a foreign citizen is obliged to provide an imputed medical insurance contract covering primary medical and sanitary care and specialized medical care in hospital conditions in emergency form to the future Employer, before signing the employment contract. Liability for non-compliance lies entirely with the employer. Liability for non-compliance lies entirely with the employer…
21.08.2023 TURKEY’S STEEL AND CHEMICAL EXPORTS TO KYRGYZSTAN: TRENDS AND INSIGHTS
FCHAIN Corporation, a pioneering consulting firm operating across 14 global branches, including strategic locations like Turkey and Kyrgyzstan, continues to monitor and analyze economic trends that impact international trade. As a company specializing in finance and legal services, FCHAIN remains committed to offering valuable insights to its clients. Recent data reveals notable changes in Turkey’s steel and chemical exports to Kyrgyzstan, shedding light on evolving trade dynamics…
29.08.2023 OSON PAYMENT SERVICE INTRODUCES FEE-FREE MONEY TRANSFERS TO AZERBAIJAN
The Uzbek payment service Oson has initiated fee-free money transfers to Azerbaijan. According to available data, individuals can transfer funds without incurring any transaction fees using payment methods such as Humo, Uzcard, Visa, Mastercard, or the Oson e-wallet…
30.08.2023 TURKEY AND TAJIKISTAN FORGE PATH TO $1 BILLION TRADE MILESTONE BY 2025
In a bid to strengthen their economic ties, Tajikistan and Turkey are charting a course to elevate their mutual trade volume to $1 billion by 2025. To formalize this ambitious goal, both nations have inked a comprehensive roadmap for boosting bilateral trade. The document, signed by Tajikistan’s Minister of Economic Development and Trade and Turkey’s Minister of Trade, was a pivotal outcome of a business forum held on November 10th in Dushanbe, the capital of Tajikistan…
In its decision dated July 20, 2023, the Monetary Policy Committee has reaffirmed its commitment to an ongoing gradual simplification process aimed at bolstering macro financial stability and enhancing market mechanisms’ effectiveness…
