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Kazakhstan’s Government sets higher export duty on petroleum products

29 july 2011, 01:15
0
Kazakhstan’s Government has set the new rate of the export duty on petroleum products, with the export duty on crude oil remaining at the earlier set level.

According to the government’s resolution, export duty on light oil products will stand at $114.05 per metric ton (the current rate introduced in August 2010 was $98.13 per ton), whereas the rate for heavy oil products will be $76.03 per tons (as compared to the current $65.42 per ton).

Starting from January 1, exports duty on crude stands at $ 40 per ton. The previous rate stood at $ 20 per ton. According to Finance Ministry, in 2011 Kazakhstan expects to get KZT 421.4 billion ($ 2.8 billion) from introducing the exports duty.

For the H1 2011 the state budget revenues paid in the form of export duty on crude made up $1.67 billion, Vice Finance Minister Ruslan Dalenov wrote in his Twitter account July 22.

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