Important changes in accounting legislation of Republic Kazakhstan

15.10.2024

Source: Official website of the President of the Republic of Kazakhstan (www.akorda.kz)

02.07.2024 

New law on public procurement signed by the President of Kazakhstan

On 1 July 2024, the President signed the Law of the Republic of Kazakhstan “On Public Procurement”. The Law entered into force on 1 September 2022.

It is aimed at optimising the procurement process, improving the quality of goods and services, as well as promoting competition and increasing the responsibility of public procurement participants. Among the innovations are simplification of procedures, maintaining a register of suppliers with a positive reputation, and toughening measures to combat corruption in public procurement.

The law simplifies procurement procedures, which will allow customers to complete transactions faster and more efficiently, and gives more autonomy in decision-making. Among the key changes are the possibility to conclude contracts with a single supplier, revision of procurement deadlines and expansion of single-source procurement opportunities.

In addition, a new supplier evaluation system is being introduced that combines price and quality criteria, which will raise the standards of procured products. Also, ‘sustainable public procurement’ based on environmental and social aspects has been introduced.

The Law will be an important step in increasing the transparency and efficiency of public procurement in Kazakhstan, which will create new opportunities for small and medium-sized businesses and minimise corruption risks.

 

Source: ОС «Dogovor24» 

20.08.2024

The Rules for notification of personal data subjects on personal data security breach have been adopted

Pursuant to the Law of the Republic of Kazakhstan “On personal data and their protection” and Government Decree No. 501, new Rules for notification of personal data subjects on security breaches were approved, regulating the notification process in case of identification of threats to the security of personal data.

According to the new Rules, within 1 (one) business day from the moment a violation is detected, the owner and (or) operator must notify the authorised body about it. The notification must contain information on the contact details of the responsible person, measures taken to eliminate the violation, as well as personal data of the subjects, including full names and identification numbers.

It is also stipulated that information security operational centres and other competent authorities shall notify the authorised body of violations within 1 (one) business day, providing the necessary information on protective measures and personal data of the subjects.

Notifications may be sent in writing or electronically. The authorised body, having received the notification, within 1 (one) business day informs the “e-government” operator about possible risks and measures recommended for personal data protection.

The “e-government” operator notifies subjects of violations via web portal or SMS.