Energy Ministry suggests to decrease rate of minerals extraction tax: S.Mynbayev

ASTANA. January 21. KAZINFORM /Zauresh Balkenova/ ?Rate of the minerals extraction tax for oil producing companies in Kazakhstan should be corrected downwards, with oil price assumption of 40 dollars per barrel?, Head of the Kazakh Ministry of Energy and Mineral Resources Sauat Mynbayev has offered to Kazakh Prime Minister Karim Massimov today at the session of the Ministry, Kazinform reports.

?Within the development of a new Tax Code and establishment of the gradation of the minerals extraction tax, the taxation body took into account the oil price of USD 60 per barrel and higher. Today, when the oil price is lower then USD 40 per barrel, it is necessary to correct the rate downwards?, S.Mynbayev said. As the head of the Ministry noted, it is high time to support the oil sector.