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Minister of Oil and Gas Sauat Mynbayev does not find it necessary to raise export duty on oil

26 may 2011, 14:33
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Sauat Mynbayev. Photo courtesy of focus.kz
Sauat Mynbayev. Photo courtesy of focus.kz
Kazakhstan’s Minister of Oil and Gas Sauat Mynbayev does not find it necessary to raise export duty on oil.

“We cannot raise the duty as the current tax burden has in fact reached the ceiling”, S. Mynbayev told journalists in Almaty May 26, Profinance.kz reports.

Export duty on oil in Kazakhstan has been $40 per ton since January 1, 2010. The previous rate stood at $20 per ton.

According to the Kazakhstan’s Finance Ministry, budget proceeds from the export duty in 2011 will make up $2.8 billion.

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