Kazakh National Economy Minister, General Director of OPEC Fund for Int’l Development meet

In his speech, the minister noted that according to the current Tax Code, there is an excess profit tax in the oil sector in the country. The part of the net profit exceeding 25% of the deductions is taxed, he said.

He highlighted that the country ensures fair taxation taking into account global economic environment.

In general, Kazakhstan has established a loyal tax system and wider tax benefits and preferences aimed at stimulating entrepreneurship, manufacturing, and agriculture.

In addition, the huge work is ongoing to de-incentivize the withdrawal of capital from the country.

Abdulhamid Alkhalifa, General Director of the OPEC Fund for the International Development, talked about the operation of the Fund, which, according to him, could be useful in terms of financing sustainable development projects in Kazakhstan.

The sides exchanged the information on preparation of plans to achieve carbon neutrality and expressed readiness to further expand cooperation.

Photo: gov.kz