BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main <p><strong>Bulletin of the L.N. Gumilyov Eurasian National University.</strong> <strong>Law Series</strong></p> <p><strong>Editor-in-Chief:</strong> Saktaganova Indira, Candidate of Law, Associate Professor of the Department of Constitutional and Civil Law</p> <p><strong>Certificate of registration of mass media:</strong> № KZ10VPY00032635 dated 19.02.2021</p> <p><strong>ISSN </strong>2616-6844 <strong>eISSN </strong>2663-1318</p> <p><strong>DOI:</strong> 10.32523/2616-6844</p> <p><strong>Frequency</strong> – 4 times a year.</p> <p><strong>Languages:</strong> Kazakh, English, Russian</p> <p><strong>Review:</strong> Double Blindness</p> <p><strong>Thematic area:</strong> theory of state and law, constitutional law, criminal and criminal procedural law, civil law, labor law, international law and the laws of other fields..</p> <p><strong>Percentage of rejected articles:</strong> 51 %</p> <p><strong>Founder and publisher:</strong> <a href="https://enu.kz/en">NJSC "L.N. Gumilyov Eurasian National University"</a>, Astana, Republic of Kazakhstan</p> en-US vest_law@enu.kz (Сактаганова Индира Советовна ) Vest_law@enu.kz (Касымжанова Айнур Ахылбековна ) Sun, 30 Mar 2025 18:39:22 +0000 OJS 3.3.0.9 http://blogs.law.harvard.edu/tech/rss 60 Norms of social state establishment and ways of their implementation in the Constitution of the Republic of Kazakhstan https://bullaw.enu.kz/index.php/main/article/view/523 <p style="font-weight: 400;">The study is based on an analysis of the provisions of the Constitution of the Republic of Kazakhstan and legislation regulating the social sphere, models of the welfare state, as well as various approaches to its understanding, which confirm the relevance of this issue. The main objective of the article is to theoretically examine the features of the establishment of a welfare state in the Republic of Kazakhstan, its legal essence, and to develop proposals for improving national legislation and its practical implementation. The article reflects the modern development of scientific approaches in the field of constitutional law. Furthermore, it explores the interaction between social national legislation and constitutional law, which is manifested in the emergence of new models of constitutional development both within national societies and beyond. The principle of the welfare state enshrined in a country's Constitution is reflected not only in defining the goals and objectives of such a state but also in granting it the necessary powers and competencies. The main part of the article examines the concept, features, and legal essence of the welfare state using scientific methods of universal and comparative legal analysis, as well as analyzing theoretical concepts presented in legal literature. In conclusion, the authors identify the key characteristics and distinctive features of the welfare state and provide their recommendations on the legal aspects of its establishment and implementation.</p> K.A. Aiteke, A.S. Koshkinbayeva, B.T. Tleulessova Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/523 Sun, 30 Mar 2025 00:00:00 +0000 Central Asian legal system and civil society: implications of governance, social transformation, and reform https://bullaw.enu.kz/index.php/main/article/view/505 <p style="font-weight: 400;">Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan are Central Asian nations that went through a crucial period of social, political, and legal change following the fall of the Soviet Union. Due to the legacy of Soviet legal systems and initiatives to fortify the legal system and foster civil society, many nations have encountered difficulties. Being an organization apart from the government, civil society has been instrumental in advancing accountability, openness, and public knowledge. Despite reform efforts, the legal system is still vulnerable to political interference and corruption. This article explores the relationship between civil society and the judicial system in Central Asia. It looks at how these components promote social justice, democracy, and the rule of law. The results indicate that although obstacles like governmental restrictions, judicial independencies, and strict regulation of non-governmental organizations still impede the advancement of this relationship, chances like global collaboration and legislative reform can open the door to change. This study uses a descriptive-analytical methodology to analyze the intricate connections between the legal system and civil society and to provide recommendations for enhancing their engagement. The study concludes that Central Asia can achieve sustainable development and rule of law by finding a balance between governmental supervision and assistance and bolstering independent, rule-of-law institutions.</p> E.K. Saparbekova, A.B. Smanova Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/505 Sun, 30 Mar 2025 00:00:00 +0000 Іssuеs of іmрlеmеntatіon of thе organіzatіon of movеmеnt of сеrtaіn tуреs of vеhісlеs іn thе Law of thе Rерublіс of Kazakhstan «On Road traffіс» https://bullaw.enu.kz/index.php/main/article/view/428 <p style="font-weight: 400;">Thіs artісlе analуzеs thе lеgіslatіvе сhangеs іn thе Rерublіс of Kazakhstan aіmеd at rеgulatіng moреd traffіс and еnhanсіng road safеtу. Thе іnсrеasіng рoрularіtу of moреds has lеd to a sharр rіsе іn road traffіс aссіdеnts, nесеssіtatіng urgеnt solutіons. Thе Mazhіlіs of thе Рarlіamеnt of thе Rерublіс of Kazakhstan іntroduсеd amеndmеnts to thе Law «On thе road traffіс», еquatіng moреds wіth full-flеdgеd vеhісlеs, mandatіng thеіr statе rеgіstratіon, tіghtеnіng rеquіrеmеnts for moреd drіvеrs, and dіgіtіzіng road safеtу mеasurеs. Thеsе сhangеs іnсludе rесognіzіng moреds as full-flеdgеd vеhісlеs, іnсrеasіng drіvеr aссountabіlіtу, and іmрlеmеntіng dіgіtal сontrol sуstеms. Thе artісlе dіsсussеs thе maіn asресts of thеsе lеgіslatіvе amеndmеnts, thеіr objесtіvеs, and еxресtеd outсomеs. Addіtіonallу, rесommеndatіons arе рrovіdеd for іntroduсіng thе сonсерt of avеragе sрееd to rеduсе road traffісaссіdеnts сausеd bу sрееdіng on hіghwaуs. Drawіng on іntеrnatіonal еxреrіеnсе, еffесtіvе mеthods for rеgulatіng moреd managеmеnt іn Kazakhstan arе рroрosеd. Ovеrall, thеsе lеgіslatіvе сhangеs arе a sіgnіfісant stер towards іmрrovіng moреd traffіс сontrol and еnhanсіng thе safеtу of all road usеrs.</p> S. Nurzhan, D. Tеbaуеv Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/428 Sun, 30 Mar 2025 00:00:00 +0000 Legal aspects of protecting digital entrepreneurship in the context of globalization https://bullaw.enu.kz/index.php/main/article/view/502 <p style="font-weight: 400;">This article is devoted to the urgent problem of economic development of Kazakhstan, that is, the organization of digital business in private entrepreneurship. The results of the analysis of the general organizational and legal form of private entrepreneurship are presented. The main factors influencing the choice of the form of business organization are highlighted. In Kazakhstan, the features and prospects of private entrepreneurship in terms of the digitalization of the economy are clearly expressed. In addition, during the development of private entrepreneurship through a special platform, the implementation of the country's regulatory framework is not legally provided for. At the same time, using the traditional legal method, the binding nature of the current rules and the degree of their determination are determined within the framework of contractual negotiations between the parties. The study of this article revealed the absence of special legislation regulating all sectors of the economy. Instead, a specially crafted network of complex rules gives digital entrepreneurs constraints as well as opportunities. One of the signs of the relevance of this topic is that the country has been tasked with becoming one of the 30 developed countries in the world that require systematic new innovative development and accelerated technological renewal.</p> <p style="font-weight: 400;">Digital entrepreneurship has been growing rapidly in recent years, which has led, in particular, to the rapid development of technology and the Internet, the emergence of new business models, increased competition and opportunities for innovation. However, this growth posed new challenges for politicians and lawyers, who had to ensure that the legal framework and ethical position of digital entrepreneurship remained relevant and effective.</p> <p style="font-weight: 400;">The purpose of this article is to determine the prospects for the development of digital entrepreneurship in our country, and also includes a number of issues related to the protection of digital rights and the execution of digital contracts.</p> I. Ilyassova, Т. Satkey, N. Zhexembayeva Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/502 Sun, 30 Mar 2025 00:00:00 +0000 Legal foundations for the development of tourism in Kazakhstan in national and international dimensions https://bullaw.enu.kz/index.php/main/article/view/509 <p style="font-weight: 400;">The article examines Kazakhstan's legal framework for tourism at the national and international levels, highlighting legislative shortcomings and proposing reforms to enhance regulatory effectiveness. The topic's relevance stems from strategic role of tourism in Kazakhstan's economic growth in the context of global integration and legislative modernization. The study analyzes key legal documents, including the Constitution, the Law on Tourism Activities, and related regulations shaping the industry's legal environment.</p> <p style="font-weight: 400;">Government policy prioritizes infrastructure development, industry competitiveness, and legal alignment with global standards. Identified challenges include regulatory fragmentation, weak implementation of international norms, and inconsistencies in law enforcement. Key issues involve traveler protection, online tourism regulations, and the lack of standardized hotel classification. Various regulatory models – market-driven, state-controlled, and hybrid are analyzed.</p> <p style="font-weight: 400;">The authors emphasize the need for comprehensive legal modernization, harmonization with international standards, and improved business and investment conditions. The research offers practical value by providing insights for enhancing Kazakhstan's tourism legislation in line with global best practices and industry needs.</p> A.B. Turysbek, A.Zh. Issayeva , G.M. Abubakirova Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/509 Sun, 30 Mar 2025 00:00:00 +0000 Modern development of artificial intelligence technologies and problems of legal regulation of profiling and targeted advertising in Kazakhstan https://bullaw.enu.kz/index.php/main/article/view/442 <p style="font-weight: 400;">In 2023, Kazakhstan adopted the Law ‘On Online Platforms and Online Advertising’, aiming to control online advertising. The law does not fully protect personal data during profiling and targeted advertising, being limited to general norms of legislation on the protection of personal data. Moreover, Kazakhstani laws vaguely regulate the automated collection, analysis and processing of data, which form the basis of profiling, microtargeting and artificial intelligence technologies.</p> <p style="font-weight: 400;">The article compares Kazakhstani and European regulations of profiling and targeted advertising. We consider the opinions of Western scholars on how profiling and targeted advertising invade a person’s privacy, autonomy, and freedom, and pose threats to other fundamental rights and freedoms of the individual. The article critically assesses the lack of adequate regulation of profiling and targeted advertising in Kazakhstani law on the protection of personal data.</p> <p style="font-weight: 400;">A comparative analysis of the problem with European legislation leads to the conclusion that Kazakhstani legislators should take seriously the scope and complexity of the right to privacy as well as how it relates to other rights and freedoms. The nation requires a high-quality law that safeguards personal data during profiling and targeted advertising, providing for clear responsibilities of owners and operators of personal databases.</p> S.B. Akhmetova, A.A. Kassymzhanova, A.S. Ibrayeva Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/442 Sun, 30 Mar 2025 00:00:00 +0000 Legal regulation of subsoil users responsibility in the People's Republic of China and the Republic of Kazakhstan https://bullaw.enu.kz/index.php/main/article/view/536 <p style="font-weight: 400;">The article deals with issues of legal liability in the field of subsoil use. Also, subsurface users engaged in exploration, extraction, sale and processing of minerals bear social responsibility. The legislation of Kazakhstan and China is aimed at protecting the right of state ownership of the subsoil,ensuring legal liability for violations by subsoil users of environmental requirements, illegal mining,unauthorized mining, mining without licenses and violation of the terms of a contract or license. The legislation of Kazakhstan provides for provisions on the social responsibility of business, including subsoil users.</p> <p style="font-weight: 400;">Kazakhstan has norms on the social responsibility of business entities. The laws of the Republic of Kazakhstan establish the obligations of subsoil users for the acquisition of Kazakh goods, works and services, as well as for the training of Kazakhstan staff. The legislation of both countries provides for measures of civil, administrative and criminal responsibility for violations of legislation in the field of subsoil use.</p> <p style="font-weight: 400;">Recent events in the world related to the interests of the current US administration in concludingdeals with some countries of the world on the extraction of rare earth metals indicate the geopoliticalnature of the attitude towards the subsoil and subsoil use. The sphere of subsurface use is becoming a sphere of geopolitical interest for major powers. In the case of assuming geopolitical obligations, the State engaged in subsurface use essentially assumes responsibility for the country where subsurface use is carried out.</p> Li Fang, N. Amirov, S. Adilgazy Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/536 Sun, 30 Mar 2025 00:00:00 +0000 Some issues of legal regulation of labor relations with medical workers in Kazakhstan https://bullaw.enu.kz/index.php/main/article/view/527 <p style="font-weight: 400;">The study of the legal status of a medical worker seems to be an important area of modern medical and legal research since it allows for the identification of gaps in the regulatory framework for the provision of medical services and the development of specific mechanisms for their elimination. It can be assumed that at present there are problems in the staffing of the healthcare sector due to the incompleteness of legislative norms regarding the rights and responsibilities of medical workers.</p> <p style="font-weight: 400;">The purpose of this article is to study the features of regulating the social and labor relations of medical workers. This article examines the features of the differentiation of medical workers' labor and determines the legal status of their labor. In addition, taking into account the latest changes in the current domestic legislation, an analysis of the current state of the legal status of a medical worker is carried out. It is determined that the regulation of labor relations of workers in the field of medicine is carried out by a set of various regulatory legal acts created on the basis of the principle of unity and differentiation of legal regulation of labor relations.</p> <p style="font-weight: 400;">Also, situations are determined when employees in this area are provided with additional payments and current measures of social support, and some features and problems arising in the process of their direct labor activity are indicated and disclosed. The special nature of their work is also indicated in connection with certain threats to the physical and emotional health of health workers, as well as special legal liability that arises in the event of a violation of their powers and duties.</p> E. Omarova, G. Galiakbarova, K. Abdilov Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/527 Sun, 30 Mar 2025 00:00:00 +0000 Introduction of the system of professional liability insurance for medical workers in Kazakhstan: issues of formation of the legislative framework https://bullaw.enu.kz/index.php/main/article/view/462 <p style="font-weight: 400;">The article analyzes the legal basis of the system of professional liability insurance of medical workers being implemented in the Republic of Kazakhstan.</p> <p style="font-weight: 400;">The system of professional liability insurance of medical workers is a new and ambitious project, the legislative basis of which is at the stage of formation and requires additional theoretical and scientific research.</p> <p style="font-weight: 400;">In accordance with the current legislation - a doctor no longer has the right to carry out medical activities without concluding a contract of professional liability insurance for medical workers. That is, this type of insurance has become mandatory and this, according to the authors, will have a positive impact on the quality of medical services.</p> <p style="font-weight: 400;">According to the authors, the introduction of this system in the Republic of Kazakhstan should facilitate the payment of compensation to injured patients, protect the medical worker in case of inadvertent error and strengthen the legal status of the doctor in the domestic health care system. The introduction of professional liability insurance for medical workers facilitates interaction between the patient, the doctor and the medical organization. Patients will not need to go to court with a claim for damages under civil liability, and doctors will not face the financial burden associated with the payment of compensation.</p> <p style="font-weight: 400;">The aim of the scientific article is to develop proposals for successful implementation of this system and improvement of legislation. The legal review of this type of insurance is presented, the peculiarities of normative regulation of professional liability insurance of medical workers are studied.</p> <p style="font-weight: 400;">To achieve this goal, the authors analyze new legislative initiatives, changes and amendments in the current legislation, draw conclusions and proposals.</p> Y. Aytkazin, A. Kaishatayeva, M. Muratkhanova Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/462 Sun, 30 Mar 2025 00:00:00 +0000 On some issues of regulation of atypical labour relations in individual OECD member countries https://bullaw.enu.kz/index.php/main/article/view/503 <p style="font-weight: 400;">The global shift towards atypical labour, driven by digital technologies and evolving work patterns, reshapes employment across OECD countries. This article investigates the legal frameworks regulating atypical work, focusing on governments' approaches to balance flexibility and worker protection. Atypical employment, including temporary, freelance, remote, and seasonal work, presents opportunities and challenges, such as flexible work arrangements but less stability in social guarantees. The research utilizes analysis, synthesis, induction, and comparative legal analysis methods, drawing from international ratings, including the Global Innovation Index and World Competitiveness Ranking, to evaluate regulatory practices. By examining legislation from eight OECD countries—Germany, Denmark, the Netherlands, South Korea, the USA, Finland, Switzerland, and Sweden—the article identifies common trends in labour law adaptations to accommodate non-traditional employment. This study underscores the importance of international cooperation and the necessity of legal reforms in addressing the rise of atypical labour, as the current legal frameworks may not be sufficient to protect workers in this new landscape.</p> Y.N. Nurgaliyeva, A.O. Makrushin, M.T. Satybaldiyeva Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/503 Sun, 30 Mar 2025 00:00:00 +0000 Features of the institution of complicity in criminal legislation of the Republic of Bulgaria and the Republic of Kazakhstan: comparative analysis https://bullaw.enu.kz/index.php/main/article/view/480 <p style="font-weight: 400;">This article examines the characteristics of complicity in the criminal legal systems of Bulgaria and Kazakhstan, identifying similarities as well as differences in how roles and responsibilities of accomplices are defined and distributed. In comparing the legal framework of these two countries, the authors hypothesize that despite their different legal traditions and historical contexts, both countries face common problems in regulating the responsibility of those involved in crimes, by more than one person. The methodology of the study includes a comparative analysis of the penal codes of both countries using existing law and doctrinal sources to assess how each legal system qualifies the institution of complicity. The results highlight that although both legal systems share common conceptual frameworks, such as recognition of different roles and personal punishment of accomplices, approaches differ in their application. Kazakhstan’s legal framework tends to emphasize more detailed role classification, while Bulgaria has a more flexible, context-dependent approach to defining the responsibility of accomplices. The article contributes to academic debate by offering a clearer understanding of how legal systems govern participation and accountability, while emphasizing the practical implications of this framework for achieving fair and individualized justice. This study not only broadens our understanding of complicity and its application in criminal law, but also offers recommendations for improving the clarity and consistency of legal classifications.</p> Z. Abdukarimova, G. Turgynbek, А. Rzabay Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/480 Sun, 30 Mar 2025 00:00:00 +0000 Gambling in the digital era and criminological challenges of crimes in online gambling https://bullaw.enu.kz/index.php/main/article/view/538 <p style="font-weight: 400;">In the context of the active development of the digital economy and the expansion of the Internet space in Kazakhstan, the problem of online gambling and related criminological risks is becoming particularly relevant. The purpose of the study is a comprehensive analysis of the criminological aspects of online gambling, the identification of the main types of crimes in this area, as well as the development of proposals to improve legislation and preventive measures. The scientific novelty of the research lies in the consideration of crimes in the field of Internet gambling through the prism of modern criminological theories and the assessment of the effectiveness of the current legislation of Kazakhstan from the standpoint of international standards. The practical significance is determined by the contribution to the improvement of state policy in the field of gambling regulation and crime prevention. The study revealed the main criminological risks associated with online gambling, such as fraud, money laundering and illegal business activities. It has been established that the existing legislation of the Republic of Kazakhstan in the field of gambling does not sufficiently take into account the specifics of digital platforms and requires improvement taking into account international experience. The conducted research contributes to the development of criminological science, expanding the understanding of modern forms of crime in the digital environment. The results of the work are of practical importance for law enforcement and government agencies in the field of crime prevention and gambling regulation.</p> B.R. Taubayev, B.A. Seriev, B.S. Issakhov Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/538 Sun, 30 Mar 2025 00:00:00 +0000 Fundamentals and mechanisms of national legislation on the prevention of stalking violation of personal space https://bullaw.enu.kz/index.php/main/article/view/528 <p style="font-weight: 400;">In this research article, a study of the bases and mechanisms of national legislation on the prevention of stalking (tracking) violation of a person's personal space was carried out. The purpose of the scientific research is to provide a comparative legal analysis of the national legislation on the prevention of violation of the personal space of a person with foreign legislation, and to improve the national legislation on the prevention of violation of a person's personal space. As a result of the discussion of the laws of far and near foreign countries and the comparative legal analysis of the national legislation on the prevention of stalking (tracking) violation of a person's personal space, a set of separate recommendations was made. Also, in order to determine the legal bases and practical mechanisms of protection of individuals from the crime of stalking (tracking) according to the international legal system, the result of the differentiation of the system of law enforcement and judicial bodies' actions on the protection of individuals from the crime of stalking (tracking) in the Republic of Kazakhstan defined. In addition, Stalking (tracking) proposed national legislation frameworks and mechanisms to prevent violation of personal space.</p> A. Ordayeva, M. Shekerbekova , S. Abutaeva Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/528 Sun, 30 Mar 2025 00:00:00 +0000 International experience in animal rights protection https://bullaw.enu.kz/index.php/main/article/view/426 <div> <p><span lang="EN-US">The authors of this article have conducted an analysis of the advanced practices of foreign countries concerning the protection of animal rights. The research purpose is to explore the regulation of interactions with animals, responsible treatment, legislative measures for the protection of animal rights, and the positioning of animals within the framework of legal relationships.</span></p> </div> <div> <p><span lang="EN-US">To achieve this objective, the authors have examined the legislation of selected developed countries in Europe and Asia, as well as the overall regulatory framework of the European Union, within a single article. According to the Animal Protection Index, the best animal rights protections are found in the European countries.</span></p> </div> <div> <p><span lang="EN-US">In the Republic of Kazakhstan, faunal legislation primarily focused on the protection of wild animals from threats, ensuring their integrity as an essential part of the ecosystem, and preserving biodiversity. Unfortunately, the protection of the rights of all animal species is in its early stages and requires separate comprehensive studies aimed at improving the current unfavorable situation in the country.</span></p> </div> A.S. Ibrayev, A.A. Mukasheva, N.O. Ybyray Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/426 Sun, 30 Mar 2025 00:00:00 +0000 Legal Aspects of Data Security Cooperation in the Development of Digital Economy of the Shanghai Cooperation Organization Member States https://bullaw.enu.kz/index.php/main/article/view/476 <div><span lang="EN-US">Digital economy cooperation has become an emerging area of cooperation for the SCO. However, data security issues such as data leakage and cross-border data flow risk have been highlighted. The fundamental reason is that there are obvious differences in data security laws and the lack of legal mechanism for data security cooperation. Therefore, according to the characteristics of the SCO member states, the basic principles and the idea of legal mechanism. These legal mechanism ideas including win-win cooperation data security concept, a data security cooperation platform, digital products and digital services supply chain security legal framework system, protect the citizens of personal data security legal mechanism, form a "good data protection" and "data development and utilization" system environment. At the same time these mechanisms must provide data subjects between "data resources and data assets" "sharing, reciprocity, trading, exchange" activities of data security cooperation system compatibility. The legal mechanisms of data security cooperation in the SCO digital economy cooperation should be a sustainable development and dynamic legal mechanism.</span></div> Zh.T. Sairambaeva, Zhang Ju Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/476 Sun, 30 Mar 2025 00:00:00 +0000 A Euro Model for the Tobin Tax? The (Possible) Impact of the Tax on the European Financial Market (and on the Non-EU Investors) https://bullaw.enu.kz/index.php/main/article/view/541 <div> <p class="show"><span lang="EN-US">This article offers an overview of the Financial Transaction Tax (FTT) proposed by the European Commission, with a focus on its innovative character and origins in the "Tobin Tax." The study examines FTT’s potential impact on the European financial market and non-EU investors. The FTT is notable for being the first tax introduced in the European Union under enhanced cooperation, a procedure allowing certain Member States to implement legislation when unanimity is not achieved. Moreover, it is the first tax based on the principle of issuance of the underlying asset, irrespective of the taxpayer's residence, thus affecting even non-EU investors. The analysis includes a literature review of academic discourse on the FTT, discussing its objectives, potential economic ramifications, challenges in implementation, and the behavioral changes it may induce among market participants. Key findings highlight that the FTT, while aiming to generate revenue and stabilize markets, faces challenges such as potential market disruption, tax avoidance, and the complexity of ensuring harmonization across different legal systems. The article concludes by discussing the implications of the FTT’s implementation, emphasizing the need for an “all in, all out” approach to avoid distortions and ensure effectiveness.</span></p> </div> M. Greggi Copyright (c) 2025 BULLETIN of L.N. Gumilyov Eurasian National University Law Series https://bullaw.enu.kz/index.php/main/article/view/541 Sun, 30 Mar 2025 00:00:00 +0000