Proceeds to National Fund of Kazakhstan decreased by 33% in H1

In H1 2020, return of taxes and payments to the National Fund amounted to just over KZT 1 trillion, down 33.3% compared to the same value in 2019, LS reports.

Over six months, companies engaged in the oil sector paid a corporate income tax amounting to KZT 372 billion.

The excess profit tax totaled KZT 96.1 billion over six months, and bonuses from the oil organizations reached KZT 1.4 billion.

These companies also paid the mineral extraction tax totaling KZT 164.8 billion and the rent tax on export crude oil amounting to KZT 119 billion to the National Fund.

In H1, Kazakhstan's share in production sharing under concluded contracts from organizations operating in the oil sector amounted to KZT 265 billion.

Also, the national bank received additional payments from subsoil users (KZT 25 billion) and other fines (KZT 2.7 billion).



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