The introduction of royalties on solid minerals will be postponed until 2029

At the 28th meeting of the Project Office for the Implementation of the Tax Code, chaired by Deputy Prime Minister and Minister of National Economy Serik Zhumangarin, issues of taxation of solid mineral extraction, as well as exemption from the personal income tax for individuals when writing off problem debt on loans and microloans, were discussed. The Ministry of Industry and Construction proposed postponing the introduction of royalties on solid minerals. New provisions of the Tax Code stipulate that royalties will be payable from January 1, 2027, on the sale of mineral raw materials and solid minerals, including processed minerals, mined under licenses issued after December 31, 2026, in territories where subsoil use rights were not previously granted. At the same time, determining the tax base for man-made mineral formations, administering royalties, and setting rates, taking into account the specifics of new licenses, the capital intensity of projects, and the profitability of associated components, require further consideration. According to the Ministry of Railways, these issues require cross-industry coordination and testing using enterprise financial and economic models...