Mining companies to pay one per cent of revenues on research and development in Kazakhstan

July 26. Trend

By D.Mukhtarov

Mining companies to pay one per cent of revenues on research and development in KazakhstanThe mining companies will pay one per cent of the total annual revenue on research and development work in Kazakhstan, Minister of Industry and Trade of Kazakhstan Asset Issekeshev said at a forum to support producers ‘Create Kazakh!’ in Astana on Thursday.

“Additions are being made to the law on subsoil use and obligations of subsoil users to pay one per cent from the total annual revenue on research and development work. This provision will significantly increase funding for research and development of mining companies,” Isekeshev said.

He noted that as a result of this, the mining companies will increase funding of the research and development activities to $250 million in 2012.

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