As of January 1, 2023, amendments to paragraph 1 of Article 746 of the Tax Code have come into effect, increasing the tax rates for mineral extraction on solid minerals as follows:

             - Precious metals traded on the exchange by 50% (gold, silver, aluminum, copper, zinc, uranium);

             - Certain non-exchange metals by 30% (iron/iron ore, chrome and chromite ore, manganese and iron-manganese ore, platinum, vanadium, bismuth, arsenic, tungsten, palladium, tin, nickel, titanium, magnesium, cobalt, antimony).

             Additionally, in compliance with the Order of the Head of State issued on January 11, 2022, regarding the need to explore additional incentives for prospecting and development of new deposits in the mining sector, a 0% tax rate on mineral extraction will be applied for a period of sixty months (5 years) from the start of industrial mining, provided that the conditions stipulated in paragraph 3 of Article 746 of the Tax Code are met simultaneously.

           Furthermore, the right to apply the mineral extraction tax rates established by the Tax Code as of December 31, 2022, is granted if the profitability level of a mining deposit (or a group of deposits under one subsoil use contract) is 5% or less, in accordance with the criteria defined by the Government of the Republic of Kazakhstan.

          Amendments have been made to paragraph 6 of Article 745 of the Tax Code in order to determine the value of mineral raw materials containing valuable minerals, excluding those obtained from depleted reserves (loss recovery) at the deposit, in the absence of mineral raw material sales.

         Public Relations Department, State Revenue Committee, Ministry of Finance, Republic of Kazakhstan