Kazakhstan plans to transition from its current mineral extraction tax to a royalty-based system, calculated on the sale value of mineral raw materials. Minister of Industry Kanat Sharlapayev believes this will enhance transparency and attract foreign investors. The new model aims to incentivize domestic processing by imposing lower taxes on minerals processed locally compared to those exported raw. The proposal is set to be included in the 2026 Tax Code. Additionally, the minister emphasized boosting geology research as a fundamental science, advocating increased state funding.
Source and Credit: inbusiness.kz
