Taxation and Transparency in the Critical Raw Minerals Sector Discussed in Astana

The  OECD seminar on transparency in the management of critical minerals in Central Asia was held in Astana. Participants included representatives from the Ministry of Finance of Kazakhstan, mining companies, business associations, the diplomatic corps, NGOs, trade unions, and embassies of OECD member countries, as well as international partners: the European Union, the EBRD, the Asian Development Bank, and the World Bank.

Vice  Minister of Finance Yerzhan Birzhanov stated in his speech that tax policy should  be predictable for investors and fair to the state. Kazakhstan is counting on long-term investments that will help develop the mining industry and introduce modern technologies.

The country is already actively cooperating with the OECD in the areas of tax administration and combating tax avoidance. The Vice Minister thanked the UK government for its assistance in organizing the event and OECD representatives for their contribution to the dialogue and exchange of experiences.

Experts from the OECD Centre for Tax Policy and Administration have praised Kazakhstan’s measures to regulate transfer pricing. This assessment was included in the OECD publication “Enhancing Security and Transparency in the Management of Critical Minerals in Central Asia.”

Since Kazakhstan is viewed as one of the main potential suppliers of such resources, cooperation with the OECD will help the country establish an effective regulatory framework for the long-term and sustainable development of the industry.