The National Center for Innovation and Entrepreneurship reviewed the draft new rules for accounting for losses in the extraction of solid minerals

The National Center for Innovation and Entrepreneurship presented its comments on the draft order of the Ministry of Industry and Construction of the Republic of Kazakhstan. The project is aimed at introducing new rules for accounting for losses in the extraction of solid minerals.

*Project highlights:*
- *Loss reduction*: Introduction of mandatory action plans for subsoil users to reduce standardized losses.
- *Additional requirements*: Expanding the list of required documents, including an expert opinion on the validity of losses.
- *Increased efficiency*: Improved resource utilization and increased profitability of enterprises are expected.

*NCIE Notes:*
- Additional burden on entrepreneurs.
- The need for regulatory impact analysis to assess the balance of benefits and costs.
- Contradiction with the principles of entrepreneurship regarding the retroactive effect of the clause from January 1, 2023.
- The project needs to be finalized to comply with the legislation of the Republic of Kazakhstan.

NCIE General Director A. Dzhakupov noted that the introduction of these rules can improve the efficiency of resource use and increase the profitability of enterprises. However, new requirements create additional burden on entrepreneurs, and their implementation must be carefully analyzed for regulatory impact.

NCIE recommends revising the draft order taking into account the comments and suggestions made in order to maintain a balance between benefits for the state and entrepreneurs.



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