According to the report analysis, ‘Kazakhstan
Upstream Fiscal And Regulatory Report – Alternative Subsoil Tax Regime Looks To
Incentivize Offshore And Deep Reservoir Development’ suggests that bonuses and fee, signature
bonus, commercial discovery bonus, historical cost compensation are the tax
subsoil use contracts. Moreover, various research and development programs have
been conducted in the oil and gas exportation which resulted in the handsome
amount of income in return. As the economy of Kazakhstan is majorly depend on
the export of oil which includes various types of taxes such as rental tax on
exports, export duty and others miscellaneous expenses still Kazakhstan market
is at its nascent stage in the subsoil market.
Kazakhstan is a contiguous transcontinental country
in central Asia with Astana as a capital. It is the ninth largest country in
the world which shares its border with Kyrgyzstan, Turkmenistan, China,
Uzbekistan and Russia. Besides this, country is having unique geographic location at the crossing of Europe and Asia which make
it a noteworthy transit point for traffic moving between significant markets in
Europe and Asia. Primarily, the economic growth in Kazakhstan is driven by
domestic demand and high growth in exports but the Kazakhstan is heavily
dependent on oil exports. The country has great potential for mining as it has
rich reserves of gas, barium, gold, oil, silver, lead and others. Moreover,
according to the approximation Kazakhstan has proven to be 11th
largest reserves of both petroleum and natural gas.
Kazakhstan is a developing country with the short
policies of managing risk and performing very well in the market of subsoil
from the last few years. Continuous development in the technologies will lead to
the market growth significantly in the coming years. Kazakhstan has an abundant
supply of handy mineral and fossil fuel resources. Development in the subsoil
extraction has attracted the foreign investment and accounted in the nation’s
industrial sectors. With the extensive usage of the subsoil the market is
becoming more competitive with the new investments and brings more alternative
tax on subsoil use and indirect taxation such as property tax, value added tax,
import duties, environmental levy and others. The new entrants are investing
more and more in the technology of manufacturing of subsoil industry plays a
significant role in the growth of the industry as well as in the branch profit
tax, excess profit tax and corporate income tax.
Therefore, with the wide usage and increasing
competition of subsoil in the market the companies are taking initiative
related to cost recovery, profit-sharing and other aspects of the business
which reduce the amount of tax from a particular person and lead to positive
growth in the market in the coming years. Moreover, improvement in the
technologies of the subsoil industries in the Kazakhstan region has led to
significantly increase the competition and demand for the subsoil from the
neighboring countries which will further led to witness significant growth in
the market in the future years.
Therefore, the future of this industry will be aided by the positive
growth in the coming years.
To know more, click on the link below:-
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
