Crude export duty cut 31.4%

Kazakhstan will cut its crude export duty 31.4% to $139.79 per metric ton in mid-January,

Kazakhstan will cut its crude export duty 31.4% to $139.79 per metric ton in mid-January, the governmental press service said on Monday.

"The government resolution, which is due to come into effect 30 days after its first official publication, was published in official media on December 20," a government spokesman said.

The government will also reduce the unearned income tax for oil exports to $57.31 per ton from $121.32.

According to the resolution, the government will set oil export duty on a monthly basis and abandon the previously accepted quarterly basis.

Kazakhstan introduced crude export duty, pegged to world oil prices, in May.

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