Kazakhstan to Take Minerals Production Tax and Export Duties from Royalty Users
Kazakhstan, Astana, 23 June / Trend К.Конырова/ Both minerals production tax and export duties will be included into the new Tax Code, Nurlan Rahmatov, Chairman of the Tax Committee at the Finance Ministry in Kazakhstan, told TrendNCapital.
"Export duties and minerals production tax will not contradict each other and the both payments will be included into the Tax Code," Rahmatov, said in his exclusive interview to Trend in Astana.
Minerals production tax will be taken for produced oil and the rate of payment will depend on the world oil prices.
"Minerals production tax means to pay to produced oil independently it is delivered to domestic market or exported. Export duties will be taken in the case of the produced oil is exported," Tahmatov said.
Answering to the question of Trend , what is the benefit to the Government to keep PCA for such largest exporters, like TSHO and other royalty users, which signed contracts with PCA until 1 January 2009, Rahmtov said that there are many reserves in the Caspian shelf. I think that the Caspian shelf has not been developed till the end yet. Even Aktobe Munaygas and Petrokazakhstan will also be covered by the new Code," Rahmatov said.
At present, PSA is functioning on 14 contracts including Kashagan, Karachaganak, Tangiz and others.
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