Financial Times FT.com

Oil exporters hit by new tax as slowdown bites

By Isabel Gorst in Almaty

Published: May 20 2008 03:00 | Last updated: May 20 2008 03:00

Kazakhstan has introduced an oil export duty as part of a strategy to extract more taxes from the country's lucrative natural resource industries to compensate for a slowdown in other areas of the economy, reports Isabel Gorst in Almaty.

The $109.81 (€71, £56) per tonne oil export tax came into force at the weekend, said Bolat Zhamishev, the Kazakh minister of finance. A decision on an export duty on metals is expected soon.

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