Efficient administration and implementation of governing laws and regulations establishes compelling mining contribution from companies’ functioning in the global mining industry. Thus, countries have relatively well-organized government bodies, agencies and other relevant organizations governing their respective mining industries and maintaining competitiveness in the global market.
Mining accounts for a significant part of government revenues, which takes diverse forms, including corporate income taxes (CIT), value added tax (VAT), withholding tax, and royalties among many other country specific taxes, and payments. This report focuses on taxes and royalties levied in selected countries by giving a broad comparison.
Countries such as Germany, Kazakhstan, Russia, the UK and Ukraine have lowest CIT rates (less than or equal to 20%), whereas, Chile, China, Ghana, Indonesia, Peru, and South Africa have moderate CIT (20% -30%). Argentina, Australia, Brazil, the Democratic Republic of Congo (DRC), India, Mexico, Philippines, and Tanzania have the highest CIT (greater or equal to 30%). There is a standard 38% federal CIT rate in Canada while the Canadian provinces and territories have a CIT rates in lower and a higher brackets. In the US, the CIT varies from state to state in the range of 3%-9.99%.
Royalty rate vastly differs from country to country. For Instance, Australia royalties are different in each state and territory and varies from commodity to commodity. In Brazil, India, and Indonesia, the royalties are broadly commodity wise. In the US and Canada, it differs in each state and province.
The report "Global Mining Fiscal Regime 2017 - A Focus on Major Taxes and Royalties in Selected Countries" provides top governing bodies, their primary laws and regulations for selected countries split across the regions of Asia-Pacific, Europe, Former Soviet Union, Middle East and Africa, North America, Oceania and South and Central America. Additionally, this report sets out in detail the contractual framework under which firms must operate in the industry and clearly outlines the governing bodies, governing laws and regulations and tax-related information on different commodities including coal, iron ore, copper, zinc, lead, bauxite, gold, silver, nickel, chromium and manganese.
- Detail on legal framework and governing bodies administering the industry
- Overview of governing bodies, laws and regulations and key fiscal terms governing the global mining industry
- Detail on royalty and applicable tax rates including - corporate income tax, value added tax and withholding tax
- Gain an overview of global mining fiscal regime
- Gain an overview of the most prominent mining taxes and royalties applicable in key mining countries.
- Understand the complex regulations and contractual requirements applicable to mining industry.
- Understand the regulatory and taxation framework in global mining industry
2. Global Mining Fiscal Regime
2.1. Executive Summary
3. Global Mining Fiscal Regime - Governing Bodies, Laws, and Regulations for Selected Countries
3.3. Former Soviet Union
3.4. Middle East and Africa
3.4.1. South Africa
3.5. North America
3.7. South and Central America
4. Global Mining Fiscal Regime - Tax Rates for Selected Countries
4.1. Corporate Income Tax (CIT)
4.2. Value Added Tax (VAT)
4.3. Withholding Tax
5. Global Mining Fiscal Regime - Royalty Rates for Selected Countries
6.4. Secondary Research
List of Tables
Table 1: Global Mining Fiscal Regime - Corporate Income Tax Rate (%) by Selected Countries, 2017
Table 2: Global Mining Fiscal Regime - Corporate Income Tax Rate (%) by Canadian Province/Territory, 2017
Table 3: Global Mining Fiscal Regime - Corporate Income Tax (%) in the US by Selected States, 2017
Table 4: Global Mining Fiscal Regime - Value Added Tax (%) by Selected Countries, 2017
Table 5: Global Mining Fiscal Regime - Goods and Services Tax and Harmonized Sales Tax (%) by Canadian Province/Territory, 2017
Table 6: Global Mining Fiscal Regime - Withholding Tax (%) by Selected Countries, 2017
Table 7: Global Mining Fiscal Regime - Mineral Royalty Rates in Australia by State and Selected Commodities, 2017
Table 8: Global Mining Fiscal Regime - Royalty Rates in Brazil by Selected Commodities, 2017
Table 9: Global Mining Fiscal Regime - Mineral Royalty Rates/Mining Tax in Canada by Province, 2017
Table 10: Global Mining Fiscal Regime - Mineral Royalty Rates in Indian by Selected Commodities, 2017
Table 11: Global Mining Fiscal Regime - Royalty Rates in Indonesia by Selected Commodities, 2017
Table 12: Global Mining Fiscal Regime - Coal Royalty Rates in Indonesia, 2017
Table 13: Global Mining Fiscal Regime - Federal Royalty Rates in the US on Coal Leases, 2017
Table 14: Global Mining Fiscal Regime - State Royalty Rates in the US on Coal Leases, 2017
List of Figures
Figure 1: Global Mining Taxes and Royalties - Comparison of CIT and VAT (%) for Selected Countries, 2017
Figure 2: Global Mining Fiscal Regime - Corporate Income Tax Rate (%) by Selected Countries, 2017
Figure 3: Global Mining Fiscal Regime - Value Added Tax (%) by Selected Countries, 2017