Source: APKinform (Ukraine)
The Kazakh Ministry of Finance has taken an initiative to introduce fixed export duty rates for raw materials (including grain). This was reported to APK-Inform by market participants.
It is reported that goods belonging to 91 codes of TN VED (various types of raw materials, primarily fuel, ore, sand, salt, grain and ferrous metals) are currently not subject to export duties in Kazakhstan. Meanwhile, the volume of exports amounts to 68 million tons with a total value of 30.1 billion dollars.
According to calculations by the Ministry of Finance, if the rate of USD 50 per ton is applied, an additional KZT 1.6 trillion will be transferred to the state budget for the year. If this mechanism is implemented from August this year, the additional revenue will amount to KZT 667 billion.
The Ministry of Finance believes that this proposal will promote the processing of raw materials in the country.
The agency called on the Head of Government to instruct the Ministry of Trade and Integration and the Ministry of National Economy to work with other interested government departments on the issue of introducing export duty rates for each exported commodity.
