Kazakhstan's new tax code is held up as a model for emerging economies

Article Abstract:

Foreign investors are recommending Kazakhstan's new tax code as a model for countries striving to develop a market economy. The tax code, which will take effect starting Jul. 1, 1995, is simple, business-oriented and broad-based. It will benefit multinational investors with stakes in the country's oil projects since it allows the deduction of production and development expenses from taxable income and depreciate capital equipment expenses. However, the biggest beneficiaries might be local entrepreneurs who already have functional projects.

Tax Law, Interpretation and construction, Kazakhstan, Tax policy

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China's avid borrowing worries lending agencies

Article Abstract:

China's heavy borrowing from international lending such as the World Bank at an annual rate of $3 billion may soon reach the debt ceiling of 10% of the lender's assets by the year 2000. The country, to its credit, has been diligent about implementing projects covered by the loan and achieving its goals. However, there is an international pressure against further financing for China because of its human rights record and nuclear arms policy. Furthermore, other poor countries feel deprived of their share of international loans.

Administration of General Economic Programs, National Government Liabilities & Debt, Admin. of general economic programs, World Bank (IBRD), Economic policy, International relations, World Bank, Chinese foreign relations, National debt

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U.S. Ex-Im Bank may fund China hydropower project

Article Abstract:

The US Export-Import Bank has agreed to provide funding for the Xiaolangdi hydroelectric dam project in China. The announcement surprised many observers given the bank's earlier decision to reject a similar but more massive dam project. Bank officials claim that they approved the Xiaolangdi project because it met environmental standards. US firms with business interests in China are lauding what they see as the Clinton administration's decision to drop its ideological bias against large-dam construction.

Administration of Air and Water Resource and Solid Waste Management Programs, Hydroelectric Projects, Export-Import Bank, Management, Public works, Finance, Development banks, Hydroelectric power plants, Export-Import Bank of the United States, Hydroelectric construction

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