Kazakhstan floats its national currency, tenge, allowing the
market to determine the tenge rate. Despite uncertainty in the
strength of local currency, Kazakhstan is still pursuing the
attraction of new investments in the domestic market, including the
coming EXPO-2017. This issue of the Market eyesight will focus on
the country's decision to float tenge, as well as new legal
conditions for the investors in certain sectors of
economy.
Taxation of Subsoil Users
The Government of Kazakhstan will reduce the rate of the oil and
gas, mining and chemical industries starting from September,
2015.
Following certain analytical researches of oil and gas companies
and reduce the tax rate in order to stimulate the operations. This
is the opportunity to reduce the general tax burden on such
companies by 80%, around 46 billion tenge.
