Kazakhstan to reduce the tax rate for 39 marginal oil producers.
Edited by Rhod Mackenzie / 2015-08-20 07:58:39
The Kazakh authorities wanted to reduce the tax rate on minerals (MET) to support the 39 oil and gas companies with low profitability, the 1st Deputy Prime Minister of the Republic B.Sagintayev declared on August 20th, 2015.
According to him, 39 low-margin companies were selected from the list of 57, for which severance tax rate will be reduced until October 1th, 2015 in order to them maintain the level of production.
B.Sagintayev explained that this will help to reduce the financial burden by 8%, which will give a relief worth 146 billion tenge.
