Kazakhstan raises export duties on petroleum products
ASTANA. Aug 12 (Interfax) - Kazakhstan has raised export duties on petroleum products.
An August 6 governmental decree on the new duties was published in the press on Wednesday and will take effect within 30 calendar days after being published.
The export duty on light distillates, medium distillates (for specific refining processes) and heavy distillates (gas oils and liquid fuels excluding heavy liquid distillate fuel) has been raised to $67.29 per tonne from $59.87 per tonne.
The duty on exports of oil bitumen and heavy distillates (liquid fuel and gas oils) has been increased to $44.86 per tonne from $39.91 per tonne.
Kazakhstan canceled the crude oil export duty for all oil companies operating in the country on January 26, 2009.
However, in accordance with the new Tax Code that came into force on January 1, 2009 the mineral resource companies pay a rent tax on exports of oil and gas condensate depending on global prices.
The rent tax on crude oil and gas condensate exports is to be paid by individuals and legal entities that export crude oil and gas condensate with the exception of mineral resources companies that enjoy a stable tax regime as specified in their production sharing agreements concluded with the Kazakh government or authorized agencies before January 1, 2009 and which were examined by tax experts or as specified in subsoil management contracts approved by Kazakh law.