Chinas Mining Fiscal Regime: H1 2014

Chinas Mining Fiscal Regime: H1 2014 Synopsis Timetric’s Chinese fiscal regime report outlines governing bodies, governing laws, licenses, rights and obligations and tax-related information covering 12 main commodities: coal, iron ore, copper, zinc, bauxite, gold, silver, nickel, chromium, manganese, uranium and platinum group metals. Executive summary China has rich metallic mineral deposits and non-metallic deposits such as coal. It has deposits of nearly all types of known mineral resource. Mineral distribution varies from region to region, as differences in geotectonic zones and mineralization conditions create vast differences in mineral type, reserve amount and quality. The mining industry in China is governed by the Ministry of land and Resources, and the Department of Resources Conservation and Environmental Protection. The Mineral Resources law is the apex regulating law for the development of the mining industry, the promotion of exploration, the development of mines, and the utilization and protection of mineral resources. Scope The report outlines China's governing bodies, governing laws, mining licenses and ownership, mining rights and obligations, key fiscal terms which includes mining fee, royalty, resource tax, urban and township tax, land appreciation tax, enterprise resource tax, vehicle and vessel usage tax, depreciation, deductions, loss carry forward, capital gains tax, withholding tax, VAT, business tax, tax incentives and stamp tax. Reasons to buy Gain an overview of China's mining fiscal regime. Key highlights The State Council is the highest state administrative body which carries out laws enacted and decisions adopted by the National People’s Congress (NPC) and its Standing Committee. The Ministry of Land and Resources is the main governing body for mining activities in China. It is responsible for the planning, administration, protection and optimum utilization of land, minerals and marine resources. The NDRC, under the State...