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01.03.16

Kazakhstan  introduces floating ECD (export customs duty) for oil with reference to the world price since 1 March 2016, Minister of National Economy of Kazakhstan Yerbolat Dossayev said.
"In order to support the oil and gas sector and the mining and metallurgical complex it is planned to grant benefits for the severance tax (tax on the extraction of mineral resources), to introduce floating ECD for oil with reference to the world price since 1 March 2016, as well as to reduce the ECD on oil to 30 dollars per ton to ensure the financial stability of the oil and gas sector, " he said at the meeting of the Government.
Also, according to the Minister, it is proposed to establish a period of seasonal effects on oil duties at EUR 15 per tonne from 1 May to 1 September.

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