BAKU, Azerbaijan, Nov.25
By Nargiz Sadikhova - Trend:
Kazakhstan’s government is developing a decree which oversees an increase of excise taxes on petrol, Trend reports with reference to the Kazakh media.
This was announced during a plenary meeting of Kazakhstan’s senate, which was attended by Kazakhstan’s Minister of National Economy Ruslan Dalenov.
Within the framework of the meeting Senator Sarsenbay Yensegenov has addressed the issue of increasing petrol excise tax.
“There are talks that excise tax prices are increasing by 10 tenge and the corresponding documents are being prepared. Won’t that lead to increase of prices? Won’t that affect small and medium business?” Yensegenov said.
In his turn, Dalenov said that the draft of the corresponding decree is in fact being developed at the moment.
According to the minister, the cost of a liter of petrol under excise tax will include additional 10 tenge ($0,026), thus the overall tax will amount of 18 tenge.
“We think that this is not much of an increase. Assessment show that it won’t greatly affect production costs and inflation. Currently the largest share of the excise tax accounts for expenditures and income of oil producing and selling companies,” Dalenov said.
Furthermore, according to the press office of the ministry, the increase of excise tax is planned starting from January 1, 2019.
Kazakhstan fully supplies itself with petroleum products, due to recent modernization of its major refineries.
From 2011, the export of Kazakhstan’s export of light petroleum products was prohibited. In 2019, the Atyrau refinery has resumed export of the most popular type of petrol for the first time since the prohibition.
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