OREANDA-NEWS. January 26, 2012. The Senate of the Parliament of the Republic of Kazakhstan has adopted the law "On Making Amendments and Addenda to the Law of the Republic of Kazakhstan dated 08 January 2003 "On Investment", reported the press-centre of KASE.

The Act provides for exemption from customs duties of process equipment, components and spare parts and raw materials imported for the exclusive use of the territory of the Customs Union within the framework of the investment project.

According to the introduced amendments the exemption from customs duty on imports of raw materials up to five years of legal entities of Kazakhstan according to the volume of investment in fixed assets and in case of conformity of the investment project to the list of priority activities, is provided. This list of priority activities may be revised only once a year.

Also, the terms of the investment contract for the commissioning of fixed assets on the work program and the procedure of investment preferences for the import of spare parts for  manufacturing equipment and raw materials have been revised.