In Romania, it is planned to increase the tax burden on the subsidiary of KazMunaiGas — Rompetrol Rafinare. According to KMG International, through which the Kazakh company owns 54.6% of shares, the country's authorities are preparing legislative initiatives to increase the turnover tax.

At the moment, 44.7% of Rompetrol Rafinare shares are owned by the Romanian government. The company is already one of the largest taxpayers in the country: in the first nine months of 2023 alone, it transferred more than $1.2 billion to the budget. However, the new tax rules, including the minimum turnover tax, can significantly increase the financial burden on the company.

This sets KazMunaiGas the task of revising its business strategy in Romania. It is expected that the change in tax legislation will lead to a decrease in the profitability of the company, especially against the background of the previously introduced "solidarity tax", which has already had a negative impact on the activities of Rompetrol Rafinare. KazMunaiGas continues to monitor the development of the situation and work on adapting to the new economic conditions.

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