Turkeys Mining Fiscal Regime: H1 2014

Turkeys Mining Fiscal Regime: H1 2014 Synopsis Timetric’s 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. Executive 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. Reasons to buy To get an overview of Turkey's mining fiscal regime. 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. table Of Contents

1 Executive Summary 1

2 The Turkish Mining Industry – Governing Body 5 2.1 Ministry Of Energy And Natural Resources 5

3 The...