BAKU, Azerbaijan, April 7. The Ministry of National Economy of Kazakhstan has proposed to considerably increase the mining tax in the country, Trend reports via the ministry.
The issue was discussed at the presentation of the bills with amendments to the laws "On the state budget for 2022-2024" and on a guaranteed transfer from the National Fund for these years.
"In terms of increase of revenues [to the budget] and forecasts, we were instructed by the head of state to increase tax rates on mining. We have a current rate of one tenge, and propose to increase it by 10 times," Vice Minister of National Economy Azamat Amrin said at the presentation.
According to Amrin, consultations have already been held with relevant government agencies and business representatives.
“The only thing is that we want to differentiate this rate, that is, not just raise it from one to 10, but do it depending on the rate size and the cost of electricity, because the higher is the cost of energy, the higher are the expenses, and accordingly, the lower will be the size of the rate,” he noted. “This applies to white miners. As for gray ones, work to identify this gray mining is underway, and the relevant government agencies are working to control it.”
“Therefore, we are now urgently developing a bill to the tax code on the president’s instructions. The concept has been approved. Now the bill is being agreed with the government agencies. Nearly by the end of April or in May, we’ll submit you this bill and propose these amendments for discussion," added the vice minister.