Kazakhstan to double oil export tax

/REUTERS, Almaty, September 11, 08/ - Beginning October 2008 Kazakhstan will increase oil export tax to $203.8 from $109.91 per ton, is said in the government resolution, published in official newspaper Kazakhstanskaya Pravda on Thursday. May 2008 oil export taxes in amount of $109.91 per ton were imposed for 38 companies, working in Kazakhstan. Among them - semi state Exploration Production KazMunaiGaz JSC and other small enterprisers. In July the government expanded the list, adding projects of LUKOIL and Chevron. Beginning 2009 the government is supposed to impose it for all companies. Earlier government announced on its quarterly reviewing of tax amount. The resolution is effective after 30 days since its official publication. Last week Kazakhstan authorities published parameters of further Tax reform: the rates of TMP on oil, gas and metals and also changing of the rates of oil export tax. According to the Ministry of Economy, changes will lead to increasing of tax burden ratio for subsoil users of oil sphere ($60 per barrel) to 62 % from 49 %. Earlier Kazakhstan authorities focused on decreasing of tax burden on non- primary sector of economy, which will be compensated by sharp tax increasing for subsoil users and also abolishing of "stability" of tax regime for all primary contracts. Company's contracts will supposed to be sole, only if they engaged in developing huge oil fields such as Tengiz, Kashagan and Karachaganak. Today nearly 600 contracts for subsoil usage are effective in Kazakhstan, about 80 %, among which MANGISTAUMUNAIGAZ, ArselorMittal Temirtau and companies of mining sector are operating on conditions of "stability". [2008-09-11]