New Tax Code. Kazakhstan: Subsurface users taxation

Date: May 23, 2009
Pages: 8
US$ 26.00
Publisher: AFS Research
Report type: Brief Review
Delivery: E-mail Delivery (PDF)

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New Tax Code. Kazakhstan: Subsurface users taxation
Since 1 January 2009 the New Tax Code of the Republic of Kazakhstan became effective. There were numerous discussions regarding legislators’ proposals on subsurface users’ taxation. Summarizing innovations in subsurface users’ taxation, we can note that in essence the Government has decided to redistribute the tax burden: it increases taxes on the mineral resource sector and provides some tax relief for the manufacturing/services sector.

In the present report we provide the brief overview of the main provisions of the New Tax Code regarding the subsurface users’ taxation and legal evaluation of the possibility of the New Tax Code application to the previously signed subsurface use contracts.

Taking into account that subsurface use contract is legally binding document for all the parties of the contract, including the Republic of Kazakhstan, from the legal point of view we believe that the new Tax Code should not be applied to the subsurface users on subsurface use contracts in which stability of the tax regime is stipulated. The only possibility of New Tax Code extension to such subsurface users is inclusion of amendments in the contract allowing revision of the tax regime by the mutual consent of the parties of the subsurface use contract.
The tax regimes effective prior to 1 January 2009
Subsurface users’ taxation since 1 January 2009
Comparative analysis of tax regimes prior to and subsequent to 1 January 2009
Problem issues
Stability of the tax regime
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