BAKU, Azerbaijan, Jun. 16
By Nargiz Sadikhova - Trend:
A total of 98 submissions from 57 companies were approved for service expenditures refunding in Kazakhstan, Trend reports with reference to the ministry.
The overall sum that is to be refunded is 1.1 billion tenge ($2.7 million).
The expenditures refunding tool was first introduced applied at the end of 2Q2019 under the Ministry of Industry and Infrastructural Development. However, these rules has some restrictions in the coverage of business entities.
Over the period from 2019 through 2020, the Ministry of Trade and Integration made changes to the rules for subsidizing exporters after which the second package of rules was adopted on October 16, 2019.
Thus, the Ministry of Trade and Integration has received 500 applications from 246 exporters for reimbursement of service costs totaling 5.8 billion tenge ($14.4 million) since the beginning of 2020.
Towards the end of 2019 Kazakhstan’s Ministry of Trade and Integration has approved applications of 81 local companies-exporters of processed goods for a refund of expenditures worth 2.2 billion tenge ($5.6 million).
Only expenditures which were incurred after January 1, 2019, and no earlier than 12 months before application submission are entitled for the refund.
The refund mechanism will allow Kazakh exporters to decrease the net cost of the goods by 10 percent, and expand the export geography and exported goods list.
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