Kazakhstan rules out oil export duty rise

The Kazakh government has ruled out further increases in its oil export duty in the near future.


Minister of Economic Development and Trade Zhanar Aitzhanova said in Astana Thursday the issue was not on the agenda, given the government had doubled the duty at the start of the year.


"Some countries apply the export duty only, while we apply both the customs duty and a tax on mineral extraction. Therefore, there is no need to revise the export duty now," she said.


The oil export duty was introduced in August 2010 and doubled to 40 U.S. dollars per ton on Jan. 1, 2011.
(Source:http://news.xinhuanet.com)