News and analysis from Kazakhstan - Dec 05th 2008
energy
Oil exporters hit by new tax as slowdown bites
Kazakhstan has introduced an oil export duty as part of a strategy to extract more taxes from the country’s lucrative natural resource industries to compensate for a slowdown in other areas of the economy.
The $109.81 (€71, £56) per tonne oil export tax came into force at the weekend, said Bolat Zhamishev, the Kazakh minister of finance. A decision on an export duty on metals is expected soon.
By Isabel Gorst (Financial Times)
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