Increase of petrol excise duty will additionally bring 50 bn tenge in budget - Ministry of Finance

Date: 16:20, 03-12-2019.

Astana. December 3. KazTAG - Increase of petrol excise duty l additionally bring 50 bn tenge in the budget, said Alikhan Smailov, First Vice Prime Minister-  Minister of Finance.
"Increase of excise rates is one of the factor of receipts increase next year. It will bring us additionally more than 50 bn tenge," he said on the sidelines in the Government.
He named two factors for increase of petrol excise rates, one of them is increase of salaries "for teachers, educators in the kindergartens and colleges".
"Next year it will be increased by 25%, and by two times within four years. It will need additional money. At the same time, as you know, we reduced the revenues by exempting micro and small business entities from income taxes for three years. Therefore, one of the sources is excise duty. But this is not the main source. The main source is the improvement of tax and customs administration, " he said.
As for the second factor, he indicated the prices for petrol in the neighboring states, including in Russia.
“You know, today AI-92 costs 163 tenge per liter, while in Russia it is more than 260 tenge per liter. Accordingly, we are massively exporting petroleum products from our state to Russia, and we were forced to take measures to limit export by road. Therefore, the increase in gas prices is small, but it was necessary to do so in view of these two factors, ”he explained.

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