Kazakhstan plans to introduce royalties on solid minerals not in 2027, but in 2029. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to the government's press service, under the new provisions of the Tax Code, the collection of the royalty was planned to start on January 1, 2027.
However, on the proposal of the Ministry of Industry and Construction, in order to further refine the mechanisms, a decision was made to postpone the introduction of the royalty.
"The issues of determining the tax base for technogenic mineral formations, administering the royalty and setting rates — taking into account the specifics of new licenses, the capital intensity of the project and the profitability of associated components — require additional elaboration," the statement said.
A royalty is a payment whose amount depends not on the volume of extraction, but on the value of the sale of the extracted raw materials.