Official Press Release of Financial Chain Corporation. We are entirely responsible for all of the content and its accuracy and are ready to disclaim or correct any wrong or scammy information we are answerable for. Do not hesitate to contact us if you have any questions, please.
February 1, 2023 – GEORGIA HOSTED 5.4 MILLION INTERNATIONAL TRAVELLERS IN 2022
Despite being a relatively small country, Georgia can attract tourists from all over the world with its breath taking landscape, the Black Sea beaches, the high Caucasus and lower mountains, extraordinary caves, green valleys, and beautiful and ecologically friendly environment. The country is not expensive and is one of the cheapest in Europe.
…Georgia earned $3.5 billion from international tourism last year, i.e., a 182% increase compared to 2021. The country received a record number of international visitors, totalling 9.4 million.
Inflation is a big problem in the world. With cheap prices, good services, and beautiful nature, Georgia attracts tourists, and their number is increasing every passing year.
Amendments have been made in the terms of the application of international treaties to passive income paid to non-residents (dividends, royalties) in the Tax Code of Kazakhstan.
The Multilateral Convention has been used since January 1, 2021, to implement tax treaty-related measures for the prevention of base erosion and profit shifting (BEPS) in the Republic of Kazakhstan.
…In addition, as provided in Paragraph 5 of Article 4 of the Tax Code, if an international treaty ratified by the Republic of Kazakhstan establishes rules other than those contained in the Tax Code, the regulations of the mentioned treaty shall apply…
February 2 -AZERBAIJANI ATHLETES ARE GETTING IN SHAPE FOR EURO
The 39th Athletics Winter Championship, organized by the Ministry of Youth and Sports of Azerbaijan and sponsored by the Financial Chain Corporation, has ended.
The winners were revealed in the 60 m, 200 m, 400 m, 800 m, 1500 m, and 3000 m, in the relay race of 4×200, hop skip and jump, broad jump, high jump, and shot put at the competition held at the Republican Olympic Centre.
… Mr.Sultanzadeh appreciated the support from the Financial Chain Corporation and noted the company as a partner of the federation during the classical competition for the first time. He noted the fact that the arena had been decorated very nicely, and athletes and judges were awarded prizes by FCHAIN. He mentioned the company’s support at the First Family Athletics Games held in late December 2022, organized by the Athletics Federation, as well.
The Secretary General of the Azerbaijani Athletics Federation expressed his hope bilaterally beneficial cooperation with Financial Chain Corporation to continue in the future too.
February 8, 2023 – WHAT IS E-GOVERNMENTOR E-DEVLET IN TURKEY?
e-Government is an online program in which the government provides its services to citizens as well as foreign nationals who have residence cards in Turkey.
e-Government means the provision of services provided to citizens by the state in a completely easy and very secure electronic format.
It is aimed to deliver state services to the citizens in the easiest and most effective way, in a quality, fast, uninterrupted, and safe manner. You can access e-Government through this link.
…The services provided to the citizens of the Republic of Turkey, Blue Card holders and foreigners who have a Turkey residence permit (or valid work permit) and foreigner ID number can be broadly grouped as follows…
In addition, to enter other services you can also enter e-NABIZ or MHRS, via your Turkish ID number and e-government password. e-NABIZ is a personal health record system where you can manage your personal health information. MHRS is a Central Physician Appointment System that provides examination appointment services to all health institutions and organizations affiliated to the Ministry of Health…
The Rules of membership of the Chamber of Commerce and Industry of business entities and individual entrepreneurs engaged in the production of precious metals change in Uzbekistan.
Some new rules are to be introduced in the Uzbekistan Law that will affect business entities planning to join the Chamber of Commerce and Industry, and individual entrepreneurs engaged in precious metals production, as of February 1, 2023, in Uzbekistan…
Individual entrepreneurs selling precious metals will be provided a bank guarantee. As well as upon sale of precious metals through the commodity exchange with indulgence they will be allowed to:
- provide payment obligations for the precious metals purchased along with the warrant of JSC “Uzmillibank”, as well as the guarantees of other banks and the guarantor of the Agency of Export Marketing Activities…
These are an overview of the main changes in the National Legislation of Uzbekistan to come into force on February 1, 2023.
February 8, 2023 – NEW AMENDMENTS TO THE TAX CODE OF KYRGYZSTAN
Kyrgyz entities or foreign businesses operating in the country are subject to sales tax for the realization of goods, work, and services in non-cash form as of January 1, 2023.
The sales tax differs from the VAT and does not take into account purchases and is levied on sales turnover. The sales tax rates are as follows:
-upon sale of goods, work, and services that are subject to VAT at the rate of 1 % for trading activities and production field, at the rate of 2% for other activities…
The amendments to be introduced to the current Tax Code are under consideration at the Jokorku Kenesh (Supreme Council) of the Kyrgyz Republic at present.
February 8 – KAZAKHSTAN: THE LIST OF ACCOUNTING ACTIVITIES IN FEBRUARY 2023:
- Calculation and payment of wages for January: 1-10 February, 2023
- Submission of tax reporting:
- before February, 6:
- Private practice Individuals pay for PIT;
- before February, 15:
- Calculation of CIT for the period of IV quarter of 2022 – form 101.03;
- PIT and ST declaration for the period of IV quarter of 2022 – form 200.00;
- VAT declaration for the period of IV quarter of 2022 – form 300.00…
February 8,2023 – THE PERIOD OF EMPLOYMENT BENEFITS WAS EXTENDED IN TURKEY
The validity period of fringe employment benefits originally implemented to decrease employment costs for employers has been prolonged until December 31, 2023, in Turkey.
Regulated by the temporary Article 10 of Unemployment Insurance Law N.4447, benefits cover 15.5% of the employer’s share of the income (the basis of insurance premium is compensated by the insurance fund against unemployment). The usage period of these benefits by the employer ranges from 6 to 54 months, depending upon the gender and age of the insured, and on the documents he/she has.
To benefit from this incentive the insured must:
- be unemployed and be registered at Turkish Employment Agency,
- be over 18 as of the date of employment…
The insured must be employed in addition to the average number of those with insurance in the declarations of withholding and premium services for the last 6 months.
KAZAKHSTAN: UPDATE ON THE TEMPORARY RESIDENCE PERMIT RULES (TRP), JANUARY 2023
A complication of the rules for obtaining the Temporary Residence Permit in the Republic of Kazakhstan (TRP) for citizens of the EAEU countries.
The Rules for issuing Permits for temporary and permanent residence in the Republic of Kazakhstan to foreigners and stateless persons were amended by Order No. 6 dated January 6, 2023.
February 8, 2023 – HUMANITARIAN ASSISTANCE OF FCHAIN TO TURKEY
One of the deadliest and largest earthquakes of this century struck Turkey badly on February 6, 2023, at 04.17 a.m. and 1:24 p.m. ( local time). The 7.8. magnitude earthquake hit 10 provinces of Turkey: Gaziantep, Kahramanmarash, Malatya, Hatay, Diyarbakir, Kilis, Adana, Adiyaman, Osmaniye, and Shanliurfa, and was felt in the other cities and towns of the country, as well as in the neighbouring countries. Though earthquakes are common in Turkey, the magnitude of this one was enormous, causing massive damage. There are thousands of deaths, and tens of thousands are injured. As well as, thousands of buildings have been reduced to rubble…
FCHAIN is deeply saddened by the consequences of the earthquakes, expresses its deepest condolences to the families of the victims, and wishes the injured the quickest recovery.
Our hearts, thoughts, and prayers are with Turkey.
February 13, 2023 – THE NEW MIGRATION RULES IN THE REPUBLIC OF KAZAKHSTAN
The Kazakhstan Republic has amended the rules for entering and staying in the country and issuing temporary residence permits (TRP) to foreigners and stateless persons, including EEU citizens, by Decree of Kazakhstan Government No. 6 dated January 6, 2023.
The new rule will not affect those who entered the country on a visa and the period of stay will end with the visa expiration date, as well as foreigners who have a temporary residence permit…
According to Mr. Aldongarov changes in migration rules are not “tightening,” they are bringing the legislation of Kazakhstan in line with international standards.
Thus, the practice of visa-run will not work for individuals without TRP (Temporary Resident Permit).
February 13, 2023 – THE BENEFICIARIES OF THE GEORGIAN PENSION FUND
The retirement age in Georgia is 65 for men and 60 for women, and the current amount of the pension is 180 GEL a month. The pension scheme is limited to a public, universal flat-rate pension for people currently living in the country and reaching retirement age.
Mandatory employee benefits include a pension savings scheme, personal accident insurance, and healthcare…
The report on investment portfolios published in December 2022 was said to total 40.8%, but real returns (after inflation) came to 2.69%.
From March 2022, the Pension Fund started to buy US dollars which amounted to 18.8% US dollars of the investment portfolio as of December 31, 2022, but 81.2% was in GEL.
February 16, 2023 – MORE COMPANIES OPEN IN CZECHIA, BUT GROWTH IS SLOWING
Prague had both the highest number of new firms open and the most closures in the whole country, while real estate management was the most active sector.
A new analysis shows that 13,900 companies were formed in Czechia last year. A report by the Czech Credit Bureau (CRIF) found that 1,500 fewer new businesses opened last year than in 2021 but 2,800 more than in 2020.
Real estate and commerce were among the fastest-growing sectors, and trade was the fastest disappearing. Prague led in the number of new companies and closures…
The net number of companies increased the most in Vysočina, where for every 10 defunct firms, 40 new ones opened.
The Olomouc region came in second, followed by the Zlín and Pardubice regions. Ústí nad Labem was the only Czech region that experienced a net decrease in companies last year. Nine companies were created for every 10 that disappeared…
In 2023, though, companies will continue to face uncertainty from rising energy prices and inflation. This could make some entrepreneurs wary of launching new ventures, and also lead to some closures. The net growth of new companies is expected to remain slow.
Resolution No. 507, dated December 26, 2022, signed by Irakli Garibashvili, Prime Minister of Georgia, with the attachment to the list of industries with a specific working mode approved in the country.
The attachment of to list of industries with a specific work regime was approved under Article 24, Clause 3 of Chapter II of the Labour Code of Georgia and Article 6, Clause 1 of the Law of Georgia…
The enterprises and organizations with a specific working mode were defined under Resolution 10 of the Council of the National Statistical Service of Georgia dated June 28, 2016:
- agriculture, forestry, and fish farming,
- electricity, gas, steam, and conditioned air supply…
The Resolution of the Government of Georgia dated December 11, 2013, was declared to lose its effect on January 1, 2023, and Resolution No. 507 on the list of industries with a specific work mode enters into force from the date of its publication.
February 22, 2023 – GDP GROWTH IN TURKEY
Gross domestic product (GDP) is an indicator of the economic performance of countries that measures the total output of the national economy. It is calculated either annually or sometimes quarterly. The higher the GDP is, the better the national success, economic growth, and high standard of living are. That is why all countries try to increase the rate of GDP. The adjustment of inflation in output is more important than changes in the prices of goods and services in GDP measures.
The Turkish economy has been growing for a long time, as has its GDP rate. According to the OECD (the Organization for Economic Co-operation and Development), the growth of GDP in Turkey has been strong, but…
We are certain Turkey and its people shall overcome these difficulties and stand on their feet very soon, and recover the economy, education, and all other fields affected by the massive earthquakes, as the Turkish state and its people have already united as a single whole.
