Kazakhstan Tax Agency Announces Changes in Mineral Extraction Tax Rates

The Kazakh State Revenue Committee July 10 announced changes in mineral extraction tax (MET) rates. The changes include: 1) a 50 percent increase in the MET rate for exchange metals, such as gold, silver, aluminum, copper, zinc, and uranium, effective Jan. 1; 2) a 30 percent increase in the MET rate for specific over-the-counter metals, such as iron ore, chromium, manganese, platinum, vanadium, and bismuth, effective Jan. 1; 3) the right to claim the MET rate in effect on Dec. 31, 2022, if profitability from mining sector deposits is no more than 5 percent; 4) a 60-month, zero percent MET ...