Kazakhstan Independent Directors Association (KIDA) Signs MOU with CATRC

Wednesday, the 27th of April, was a remarkable day. During a conference dedicated to the changes to the tax code in 2011, a memorandum of understanding (MOU) was signed. This event was successfully organized by the Central Asian Tax Research Center. As you may know, CATRC has already organized a number of different conferences, seminars and forums in its short history. And this event was also a great success!

The MOU was concluded between the Kazakhstan Independent Directors Association (KIDA) and CATRC. It pledges cooperation for joint study and research on taxation, which both parties believe is currently underrepresented. KIDA and CATRC have also agreed to promote  information to the community at large about taxation in Kazakhstan and Central Asia, the investment climate, trade and finance.

While many of our readers may not be familiar with KIDA, this association is a true leader in Kazakhstan. KIDA was organized in 2007 to support the government’s initiative to develop an institute of independent directors. Currently, it has more than 150 members and associated people, who are corporate directors, corporate secretaries, compliance officers and other prominent professionals in Kazakhstan. The key mission of KIDA is to develop corporate management in Kazakhstan and improve the operations of Kazakhstani companies.

“While CATRC is a young organization, at the same time it is an active research structure,” said Raushan Raiskhanova, ’99, Executive Director of the Association. “For KIDA, it is a good opportunity to expand communication about issues pertinent to corporate Kazakhstan. Also, we think that it is necessary to actively support the young generation. We want KIMEP students and those students at other CIS universities to start conducting more research.”

“This is an important moment in the history of CATRC,” added Tomas Balco, Director of CATRC. “The fact that this association chose to cooperate with us is a clear message that the business community cares about our work and initiative. It also should allow us to penetrate the usual wall of non-interest into the matter and bring the tax agenda into the board meetings of Kazakhstani companies. For corporations and their board of directors, taxation represents risks that need to be managed and opportunities that need to be carefully considered.”

Of course, KIMEP and its School of Law are especially pleased by this recent development. As Dean Terence L. Blackburn explained, “I am delighted that KIMEP and the Association have entered into this MOU, which will be of substantial benefit to both organizations. KIMEP values its relations with outside organizations.  We anticipate that research conducted by the Central Asian Tax Research Center will be helpful to Association members, and that members of the association will be willing from time to time to provide guest lectures to our students.”

KIDA, CATRC, KIMEP and our partners look forward to significant benefits from this new cooperation. We hope that this will be a significant contribution to the tax systems of Kazakhstan and Central Asia.

Source: http://bulletin.kimep.kz/blog/2011/05/12/kida/