Category: NEWS

Record business registrations in Kazakhstan are driven by foreign ownership

Highest number of newly registered legal entities in nearly three years was recorded in Kazakhstan. As the Data Hub Telegram channel reports, around 4,500 new companies were registered in June alone by the justice authorities. It is the highest monthly figure since November 2022.
The number of newly registered entities increased by 31%, compared with May 2026. Meanwhile, calculations based on data from Kazakhstan’s Bureau of National Statistics show that the year-on-year increase attained 44%.
Much of the growth was created by companies with foreign ownership. Compared with June last year, their number demonstrated a 49% increase month-on-month. Comparatively, only 16, or 0.4% all legal entities registered in June, were wholly state-owned.
Around 2,500 legal entities, or 55.7% of newly registered companies, were privately owned. Meanwhile, around 1,960 entities, or 44%, had foreign ownership.
Almaty demonstrated the most notable business activity, with around 2,400 new legal entities registered. It is more than half of all registrations nationwide in June. They established around 1,700 of those entities with foreign capital.
Then followed Astana (777 new entities registered during the month, around 17% of the total).
The majority of all newly registered legal entities were classified as small businesses. 4,400 belonged to small enterprises category.

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Higher duty-free limit is necessary, according to Free Business association.

According to the Association of Free Businesses, the current limit no longer reflects economic realities. So, the Ministry of Finance has called on to increase the duty-free threshold for postal items from GEL 300 to GEL 900. The association introduced the existing threshold in 2009, but changes in the country’s economy (currency depreciation, inflation and […]

New Serbian accounting law

The Ministry of Finance of Serbia has drafted a new Accounting Law to replace the one of 2019. Together with a new draft Audit Law, it is designed to bring the country closer to European Union reporting standards ahead of accession.
They expect most of the new rules to come into force from 2027 and the heaviest new obligations to push out to 2030.
In general, the law divides companies into micro, small, medium and large.
The first change concerns the revenue ceilings: the thresholds increase to nearly €900,000, €10 million and €50 million.
The second change is based on “net operating revenue” — only the sale of goods, products and services. It leaves out subsidies, changes in inventory and capitalized work. Some companies could think that it means dropping into a lower category and a lighter reporting burden for them.
Nevertheless, the mandatory-audit threshold stays at total revenue above €4.4 million, according to the draft Audit Law.
In reality, large entities, listed and public-interest entities, and parent companies that prepare consolidated accounts would apply full IFRS. Small and medium companies will have the option to move up to full IFRS, but would use IFRS for SMEs. A national rulebook built on general accounting principles will be mandatory for micro entities, with the option of IFRS for SMEs. The framework for most mid-sized firms will not change.
According to the EU’s Corporate Sustainability Reporting Directive, large and public-interest entities would have to disclose environmental, social and governance information on a “double materiality” basis. It means they must report how sustainability issues affect the business and how the business affects people and the planet. Also, large multinational groups will have to report income tax publicly country-by-country.
Nevertheless, these obligations will begin only in 2030. Only Serbian subsidiaries of EU groups already face the CSRD at group level.
Many Serbian companies entrust their accounting to an external agency. So, accounting-service providers would have to carry mandatory professional-liability insurance, with a minimum sum tied to their prior-year fee income. It will be necessary to undergo continuous verification that they still meet licensing conditions, at their own cost. Another task is to complete ongoing professional training at designated bodies. Finally, additional data about their clients must be filed.
These costs will show up in fees for the businesses.
Also, day-to-day administration will undergo a few changes. Firstly, not only the legal representative but also the people responsible for preparing financial statements would have to sign them. Secondly, the deadline for submitting and recording accounting documents would move from five to eight working days. Finally, they will spell out retention periods: 20 years for financial statements and annual reports, 10 for the journal and general ledger, five for auxiliary ledgers.

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