Wednesday, 7 January 2015

New Russias Mining Research On Fiscal Regime: H2 2014

Timetric’s Russia's fiscal regime report outlines the governing bodies, governing laws, business licenses, rights and obligations and tax-related information on eight commodities: iron ore, copper, gold, silver, nickel, zinc, coal and bauxite.

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Executive summary

Russia has a range of natural resources, including oil fields, coal deposits and many strategic minerals. The mining industry in Russia is governed by the Ministry of Natural Resources and Environment of the Russian Federation, and the Federal Agency on Mineral Resources. The Subsoil Law is the main law for regulating mining activities in the country.

Scope

The report outlines Russia's governing bodies, governing laws, business licenses, rights and obligations and tax-related information which includes one time payment, severance tax, corporate income tax, transport tax, property tax. local taxes, depreciation, tax incentives, withholding tax, loss carry forward and VAT.

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Reasons to buy

To get an overview of Russia's mining fiscal regime.

Key highlights

The Ministry of Energy is a federal executive body responsible for drafting and implementing government policy and legal regulation in sectors including oil and fuel, electric power, renewable energy and hydrocarbons.
The Federal Agency for Mineral Resources is a federal body of executive authority responsible for providing state services, managing state property, and legal regulation in the sphere of subsoil.
The Ministry of Natural Resources and Environment of the Russian Federation is a federal executive body responsible for formulating government policy and legal regulation in the field of the exploration, use, reproduction and protection of natural resources.
The Subsoil Law is the main law in the mining industry, providing all relevant laws and regulations regarding subsoil use in the Russian Federation. Other regional laws on subsoil also apply to the mining industry.

Table of Contents

1 Executive Summary 1

2 The Russian Mining Industry – Governing Bodies 7
2.1 Ministry of Energy of the Russian Federation 7
2.2 Federal Agency for Mineral Resources 7
2.3 Ministry of Natural Resources and Environment of the Russian Federation 7
2.4 Federal Service for Environmental, Technological, and Nuclear Surveillance 7
2.5 Federal Service for Surveillance in the Sphere of Nature Use 7

3 The Russian Mining Industry – Governing Laws 8

4 The Russian Mining Industry – Ownership and Business Licenses 9
4.1 Subsoil Ownership 9
4.2 Business Licenses 9
4.2.1 License for the geological exploration and assessment of a subsoil plot 9
4.2.2 Production license 9
4.2.3 Combined geological research, exploration and production license 9
4.2.4 Termination of license 9

5 The Russian Mining Industry – Rights and Obligations 10
5.1 Rights 10
5.2 Obligations 10

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