Tax on minerals extraction to increase tax base of subsoil users twice - Ergozhin

Astana. December 3. Kazakhstan Today - Introduction of the tax on extraction of minerals will increase tax base of subsoil users by at least twice. Vice Minister of Finance Daulet Ergozhin said on Thursday, the agency reports.

"If we impose extraction of minerals, it will increase taxable base for subsoil users by at least twice," D. Ergozhin said.

According to him, for 9 months of 2007 the state budget has received more than 500 million KZT in the form of rent tax.

As it was informed earlier, vice Minister of Finance D. Ergozhin said that the Ministry of Finance of Kazakhstan suggests introducing in Kazakhstan tax on extraction of minerals instead of rent tax.

"We suggest introducing the amendments to the Tax Code, which will provide the Republic with stable incomes from raw-material base, which belongs to the state," D. Ergozhin said.

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