TABLE - Kazakhstan to impose tMP on oil and main metals

/REUTERS, Almaty, September 4, 2008/ - Kazakhstan authorities determined parameters of future tax reform: royalty for subsoil users will be changed for tax on minerals production (TMP), which will cover not only oil, gas and coal, but main metal also. The following is the table with TMP rates, which Kazakhstan government introduced for examination in the Parliament in draft of Tax Code and Bill on its effecting. ------------------------------------------------------------- name 2009 in % 2009 in % 2009 in % ---------------------------- --------- --------- --------- Oil and condensate 5-18 6-19 7-20 Incl. internal market 2.5-9 3-9.5 3.5-10 Natural gas Incl. internal market - - 0.5-1.5 export - - 10.0 iron, manganese ore 2.5 2.8 3.0 Chromium ore 16.2 16.8 17.0 Black of Uranus 14.0 16.5 15.0 copper 8.7 9.8 8.0 zinc 8.0 9.0 9.0 lead 8.0 8.5 8.5 gold, silver 5.0 5.5 5.0 aluminum 0.25 0.28 3.0 tin, nickel - - 6.0 chrome, titanium, magnesium - - 6.0 Lithium, beryllium, tantalum - - 7.7 Molybdenum - - 7.0 cesium, cadmium, thallium - - 6.0 Black coal for export - - 2.51 Mineral raw materials, containing precious stones - - 12.0 ------------------------------------------------------------- According to draft law of tax Code, tax on oil and condensate will bw calculated based on market value of Urals or Brent oil barrel, in case when company sells oil without indication of its sort - at maximum price of them. In case of differential rate of tax, it will depend on annual volume of production. In particular, for oil companies the lowest rate is provided for companies, producing 250.000 tones a year, the highest - for those, which produces more than 10 m. tones. [2008-09-04]