Companies@UA: База компаний Украины

Astana, August 5 (Interfax-Kazakhstan) - The Kazakh government announces plans to reduce the tax burden on the oil and gas sector starting from next year.

The respective government regulation was published in the state official newspaper, Kazakhstanskaya Pravda, on Wednesday.

The regulations amend the strategic plan of the Kazakh Minister of Economy and Budget Planning for 2009-2011.

The amendments set the oil sector taxation at 2% of GDP in 2009, but reduce the tax burden on the sector down to 0.5% of GDP in 2010 and maintain the same ratio for 2011 as well.

According to the most recent estimates, Kazakhstan's GDP in 2009 was expected to reach 16.865,2 trillion tenge or a 1% increase.

The Kazakh Minister of Economy and Budget Planning expects to see an annual 1%-3% GDP growth in 2010-2011.