Kazakhstan to cut crude export duty 31.4 %

Dec 22, 2008 01:00 AM

Kazakhstan will cut its crude export duty 31.4 % to $ 139.79 per ton in mid-January, the governmental press service said.
"The government resolution, which is due to come into effect 30 days after its first official publication, was published in official media on December 20," a government spokesman said.

The government will also reduce the unearned income tax for oil exports to $ 57.31 per ton from $ 121.32.
According to the resolution, the government will set oil export duty on a monthly basis and abandon the previously accepted quarterly basis. Kazakhstan introduced crude export duty, pegged to world oil prices, in May.

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