More about the customs duty on the cash foreign currency import in Kazakhstan

/IRBIS, Aug.23, 99/ - As it was informed earlier by the IRBIS agency, the government of Kazakhstan plans to introduce in the near future a new customs duty for the import of a foreign currency by the legal persons. The change is regulated by the decree #1164 "About the rates of customs payments for the imported foreign currency" of the Government of Republic of Kazakhstan of the August 16th, 1999. According to the decree, the rate of the customs duty for import of a cash foreign currency, for which the official exchange rate of the National Bank of Kazakhstan is formed, by the legal persons, is established as of 1 percent from the imported currency nominal value. The tax for customs registration of this currency is not levied (rate - 0%). In the decree is also told, that the Ministry of the Public Revenues of Kazakhstan and the National Bank of Kazakhstan are obliged to make during two weeks a suggestion concerning taxation of the customs registration of the cash currency imported by the natural persons, as well as currency, for which the official rate of the National Bank of Kazakhstan is not established. The decree comes into effect thirty days after its official publication, but the "zero rate" of the customs registration has gone into force since August 3, 1999. The decree was signed by the N. Balgimbaev, prime minister of Republic of Kazakhstan and was published in the "Kazakhstanskaya Pravda" newspaper on August 19, 1999. A dealer of the Eurasian Bank has informed the IRBIS agency that till now the customs duty for the import of cash dollar by the legal persons made 0.4 % from a nominal value of imported currency.