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Kazakhstan government discusses possibility of introduction of export customs duties on oil since January 1, 2009

Astana. January 29. Kazakhstan Today - The government of Kazakhstan discusses possibility of introduction of export customs duties on oil and mineral oil since January 1, 2009, the agency reports. According to the Minister of Energy and Mineral Resources Sauat Mynbayev, the government is in charge of provision of home market of Kazakhstan with mineral oil. "The solution to the problem is obvious - introduction of the export customs duties on crude oil and mineral oil. In this case, the prices of the home market will be below the size caused by presence of the export customs duties on crude oil," he explained. In his opinion, it is necessary to introduce the export customs duties only for those subsoil users whose contract does not provide guarantee of stability of taxation, and with the others to carry on individual negotiations. In parallel with introduction of the customs duties on export of oil and mineral oil, the Minister suggests to consider an opportunity of cancellation of the rent tax and the tax on extraction of minerals. According to the Ministry of Energy, at the price of $60 for barrel of oil, export customs duties will make $3.4 for ton and at the price of $88 for barrel of oil - $173.8 for ton. According to S. Mynbayev, introduction of the export customs duties at $173.8 for ton can lead to decrease in investment programs of subsoil users by 2.5 - 3 times and besides can complicate negotiations on introduction of Kazakhstan to WTO. The proposal of the Minister for Energy on introduction of export customs duties on oil and mineral oil has been approved at the government session on Tuesday.


Resourse: Kazakhstan Today







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