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Kazakh exporters to receive up to 50% refund for transport expenditures

Business Materials 30 November 2019 12:17 (UTC +04:00)
Kazakh exporters to receive up to 50% refund for transport expenditures

BAKU, Azerbaijan, Nov.30

By Nargiz Sadikhova - Trend:

Kazakhstan’s Ministry of Trade and Integration will compensate Kazakh exporters of processed goods up to 50 percent of transport expenditures, Trend reports with reference to the ministry.

Thus, on October 28, 2019 second set of rules for exporters support has entered into force in Kazakhstan. According to the order of the Kazakhstan’s Minister of Trade and Integration Bakhyt Sultanov, now up to 50 percent of transport expenditures of Kazakh processed goods exporters are up for compensation.

“Transport expenditures related to goods delivery via railway, air, road and maritime transport, as well as expenditures related to transport organization are accepted for a refund, whereas previously only cost of delivery via railway and road transport were refunded,” the report said.

Only expenditures which were incurred after January 1, 2019 and no earlier than 12 months before application submission are up for refund.

Currently some 52 processed goods exported received state support and were able to set the base for further development of their export activities. Total cost of expenditures refunds exceeded one billion tenge ($2.5 million).

Thus, some 250 companies-exporters submitted applications for refund for total cost of approximately three billion tenge ($7.7 million).

Overall, the refund mechanism will allow Kazakh exporters to decrease the net cost of the goods by 10 percent, and also expand the export geography and exported goods list.

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