Contracts on subsoil management can be terminated in case of threat to national security
ASTANA. January 26. KAZINFORM /Muratbek Makulbekov/ Contracts concluded with mineral developers within the previous tax legislation can be unilaterally terminated in case of threat to national and economic security of the country; Kazakh Minister of Energy and Mineral Resources Sauat Mynbayev has informed of it today at the enlarged session of the Committee for Environment and Natural Resource Use of Majilis of the Kazakh Parliament.
Answering the questions of deputies concerning execution of the President's commission on tax liability of all users of natural resources according to the current law, the Minister noted that additional discussions are required for the solution of this issue.
"If we refuse tax stability on these three-four contracts there is only one way i.e. to annul a contract", S. Mynbayev said.
According to him, there is such a possibility in contracts concluded with large mineral users, in particular, concerning Kashagan deposit in case of threat to national economic security.
The commission of the Head of the State on taxation for all users of natural resources was given to the Government at the session in Akorda on January 22.