Kazakhstan introduces export customs duties on oil
ASTANA. Aug 16 (Interfax) - Kazakhstan has introduced export customs duties on oil and oil products.
The government adopted the decree on this on July 13, and the document was published in the official press on July 16. The resolution was to come into force thirty days after its first official publication.
The Kazakh government has approved the following rates of the export duties: $20 per tonne of crude oil, $99.71 per tonne of light-oil products and $66.47 per tonne of heavy-oil products.
The crude export duties, as specified in the resolution, will not be applied in the following cases: exports of the crude oil produced by the mineral resource companies under the production sharing agreements (contracts) which were duly concluded with the Kazakh government or the authorized agency before January 1, 2009 and which were assessed for tax purposes and granted exemption from export duties; exports of the crude oil produced by the mineral resource companies under the subsoil use contracts which provide exemption from crude export duties and which are not production sharing agreements (contracts), except for the crude oil exported by the mineral resource companies that pay royalty.
The Finance Ministry expects that revenues to the national budget from oil exports will come to 60 billion tenge in 2010 and 177 billion tenge in 2011 (147.57 tenge/$1 on Aug. 16).