Monday, June 2, 2014

Mining Market Fiscal Regime H1 in Ukraine & Turkey

Ukraine’s Mining Fiscal Regime: H1 2014

Synopsis
Ukraine fiscal regime report outlines governing bodies, governing laws, licensing methods and key fiscal terms covering three commodities: coal, iron ore and uranium.
Summary
The mining industry in Ukraine is governed by the Mining Law of Ukraine. The Ministry of Energy and Coal Industry of Ukraine, Ministry of Ecology and Natural Resources, and the State Committee of Ukraine are the main governing authorities that manage the mining industry in the country.
Scope
The report outlines Ukraine's governing bodies, governing laws, licensing methods and key fiscal terms which includes mineral resources fees, corporate income tax, capital gains, withholding tax, losses carried forward, branch remittance tax, real property tax, depreciation rates and VAT.
Key highlights
  • The Ministry of Energy and Coal Industry of Ukraine (Ukraine Minenergouglya) is the central executive body whose activities are managed by the Cabinet of Ministers in Ukraine.
  • The State Committee of Ukraine on Industrial Security, Labor Protection and Mining Supervision is a central body and a legal entity.
  • The MENR is regulated and governed by the cabinet of ministries of Ukraine. The ministry supervises the field of environmental protection, ecological safety, treatment of waste, hazardous chemicals, pesticides and agricultural chemicals and performs state ecological expertise.
  • The Ministry of Economic Development and Trade prepares the terms of formation and implementation of government economy policy within its authorities, as well as forecasting and public regulation of the national economy.
Reasons to buy
To get an overview of Ukraine's mining fiscal regime.
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Turkey’s Mining Fiscal Regime: H1 2014

Synopsis
Turkey fiscal regime report outlines governing bodies, governing laws, mine ownership and license types, mining rights and obligations and key fiscal terms covering 10 commodities: coal, iron ore, copper, zinc, bauxite, gold, lead, silver, chromium and nickel.
Summary
The country's mining industry is governed by the Ministry of Energy and Mineral Resources. Mining Law No. 3213 of 1985, amended by Law No. 5177 of June 2004, provides both local and foreign investors with a more investment-friendly environment.
Scope
The report outlines Turkey's governing bodies, governing laws, mine ownership and licenses, rights and obligations and key fiscal terms which includes royalty, corporate tax, capital gains tax, loss carry forward, property tax, withholding tax, tax incentives, stamp duty, motor vehicle tax, depreciation tax and VAT.
Key highlights
The country's mining industry is governed by the Ministry of Energy and Mineral Resources.
Mining Law No. 3213 of 1985, amended by Law No. 5177 of June 2004, provides both local and foreign investors with a more investment-friendly environment.
The Ministry of Energy and Natural Resources is responsible for streamlining the use of energy and mineral resources to reduce Turkey's dependency on external sources and to make the greatest contribution to the country's welfare.
Under Turkey's mining regime, underground resources come under state ownership and disposition. According to the regime established by the mining legislation, the state has the right to explore mineral resources and supervise mining individuals or mining companies for specific periods by issuing licenses, subject to royalty payments made.

Reasons to buy
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