News 2011
#1 (67) February 2011ECD
Kazakhstan has raised the export customs duties (ECD) on oil up to $40 per ton. The government's resolution, adopted in accordance with the approved 2011 budget, was signed by the Prime Minister Karim Massimov on December 30, 2010. Thus, this decision introduces amendments to Resolution of the government of the RK of October 15, 2005 № 1036 "On the export customs duties on crude oil and petroleum products". Resolution comes into force since January 1, 2011 and is subject to official publication.
ECD on crude oil at a rate of $20 per ton operated since August 15, 2010. In Kazakhstan ECD on oil is not applied in regard to subsoil operating under PSAs concluded with the government prior to January 1, 2009 and which have passed mandatory tax examination and envisage exemption from the payment of this type of duty. Also, ECD is not paid by subsoil users the contracts of which envisage exemption from the payment of ECD on oil, except for subsoil users who pay royalty. In December the Kazakhstan's government has reduced ECD on the goods processed from oil. The rates of the export customs duties on light and dark petroleum products were reduced to $98.13 and $65.42 per ton respectively. Earlier, the rate of the export customs duties on light refined products comprised $99.71 per ton and on dark products - $66.47 per ton. As was explained by the Ministry of Economic Development and Trade, the rates of ECD on oil and certain types of petroleum products will be calculated quarterly "on the basis of the monthly information on the prices in the world markets".