Kazakh-Chinese JV on constriction of Beineu-Shymkent gas pipeline provided with tax preferences: S.Mynbayev

16:31, 23 June 2010

ANA. June 23. KAZINFORM /Muratbek Makulbekov/ The Majilis of the Kazakh Parliament approved the draft Law "On ratification of the Protocol on amendments to the Agreement between the Governments of Kazakhstan and China on cooperation in construction and exploitation of gas pipeline Kazakhstan-China as of August 18, 2007".

"The Protocol was signed in Beijing on October 14, 2009. It considers Beineu-Shymkent gas pipeline as the second part of Kazakhstan-China gas pipeline. The main purpose of the Protocol is to develop long-term cooperation between Kazakhstan and China in construction and exploitation of Beineu-Shymkent gas pipeline", Minister of Oil and Gas Sauat Mynbayev said presenting the draft Law.

The Minister noted that the Protocol introduces amendments to the Agreement providing that the Kazakh legislation is not applicable to the joint venture established for realization of the project in the part concerning the purchase of services and works. This enterprise is exempt from customs duties, value added tax, corporate income tax, property tax till loan repayment.

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