Ukraine’s Mining Fiscal Regime: H1 2014

Synopsis
Timetric’s 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.

Reasons To Buy
To get an overview of Ukraine's mining fiscal regime.

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.

Table of Contents
1 Executive Summary 1
2 The Ukrainian Mining Industry – Governing Bodies 4
2.1 The Ministry of Energy and Coal Industry of Ukraine (Ukraine Minenergouglya) 4
2.2 State Committee of Ukraine 4
2.3 Ministry of Ecology and Natural Resources of Ukraine (MENR) 4
2.4 Ministry of Economic Development and Trade 4
3 The Ukrainian Mining Industry – Governing Laws 5
4 The Ukrainian Mining Industry – Licensing Methods 6
4.1 Subsoil use rights 6
5 The Ukrainian Mining Industry – Key Fiscal Terms 7
5.1 Mineral Resources Fee 7
5.2 Corporate Income Tax (CIT) 7
5.3 Capital Gain 7
5.4 Withholding Tax 7
5.5 Losses Carried Forward 8
5.6 Branch Remittance Tax 8
5.7 Real Property Tax 8
5.8 Depreciation Rates 8
5.9 Value Added Tax 8
6 Appendix 9
6.1 What is this Report About? 9
6.2 Methodology 9
6.3 Secondary Research 9
6.4 Primary Research 9
6.5 Contact Timetric 10
6.6 About Timetric 10
6.7 Timetric’s Services 11
6.8 Disclaimer 12


List of Tables
Table 1: The Mining Industry in Ukraine – Fiscal Regime Terms and Other Taxes, 2014 1
Table 2: The Mining Industry in Ukraine – Fees for Use of Mineral Resources, 2014 7
Table 3: The Mining Industry in Ukraine – Depreciation Groups and Rates (%), 2014 8


List of Figures
Figure 1: The Mining Industry in Ukraine – Commodity Mines at Different Stages 1