News 2024
February 2016ECD
Minister of National Economy of Kazakhstan announced about the news that the rates of export customs duty (ECD) will be further tied to global oil prices. "To support the oil &gas and mining sectors, it is provided to ensure the benefits for tax on natural resources production, introduction of floating oil ECD rates, depending on the global prices starting from March 1, 2016 onwards, as well as to reduce the mazut ECD down to 30 USD per ton to ensure the financial stability in the oil and gas sector,"- said Yerbolat Dossayev, speaking at the government meeting.
When the global oil prices are below $ 25 per barrel, the ECD rate is zero, while when the global oil price is above $ 25/barrel, this rate shall be determined in accordance with the scale,"-he added. In addition, it is proposed to establish the validity of seasonal mazut duties in amount of 15 euro per 1 ton from May 1 to September 1.