The Ministry of Finance of the Republic of Kazakhstan (RoK) recognizes TCO as the best taxpayer in Kazakhstan

21 November 2023

For the second year in a row, the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan recognized Tengizchevroil LLP (TCO) as the best taxpayer in Kazakhstan in the "Subsoil User" category, for its impeccable fulfillment of tax obligations. In total, in different categories, were considered about 2,300,000 entrepreneurs in Kazakhstan, with emphasis placed not only on the amount of contribution but also on payment discipline, absence of complaints in fiscal monitoring, industry tax burden ratio, and other financial indicators. Additionally, the social projects undertaken by taxpayers and their role in providing employment opportunities for citizens in their respective regions were deemed significant factors in the evaluation.

"You contribute to the development of the economy; you create jobs and maintain stability in our society. Your companies are driving progress and prosperity. To be selected as a Best of the Best from hundreds of thousands of taxpayers across the country is a testament to the challenging journey of achieving business success. It demands not only financial responsibility but also a deep understanding of the fiscal system, continuous learning, and adaptability to changing regulations. Your diligence and dedication are what truly make you the Best Taxpayers," noted Vice Minister of Finance of the Republic of Kazakhstan Yerzhan Birzhanov.

TCO's total direct payments to Kazakhstan for three quarters of 2023 amounted to more than $10 billion US dollars, including Kazakhstani employees’ salaries, purchases of Kazakhstani goods and services, tariffs and fees paid to state-owned companies, profit distributions to the Kazakhstani shareholder and taxes and royalties paid to the government.

"We are grateful for this recognition as a conscientious, reliable, and responsible taxpayer and we are proud to continue contributing to the country's economic progress and the future," said Darmen Aronov, General Manager of Policy, Government and Public Affairs.

During the awarding ceremony, letters of appreciation were presented to the winners by representatives of government agencies, law enforcement agencies, fire departments, veterans, honored figures of medicine, education, culture and art, media, as well as public figures. Thus, the organizers highlighted that timely tax payments contribute to the construction of schools, kindergartens, hospitals, and infrastructure are built, allowances and pensions are paid, law and order is ensured, and various spheres of life of citizens are developed.