Chinas Mining Fiscal Regime: H1 2014

Published: Apr, 2014 | Pages: 20 | Publisher: Timetric
Industry: Mining | Report Format: Electronic (PDF)

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.

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.
Reason 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 Council, studies and formulates policies for economic and social development. It balances economic factors and guides overall economic restructuring.
The NEA is a department under the NDRC that is responsible for the administration of the energy sector, including coal, oil, natural gas, power, nuclear power and renewable energy. NEA provides guidelines related to energy conservation, the comprehensive utilization of resources in the energy sector, and scientific and technological advancement.

 1 Executive Summary 1
2 Chi's, Governing Bodies 4
2.1 State Council 4
2.2 Ministry of Land and Resources 4
2.3 tiol Development and Reform Commission (NDRC) 4
2.4 tiol Energy Administration (NEA) 4
2.5 State Bureau of Material Reserve 4
2.6 Department of Resource Conservation and Environmental Protection 5
3 Chi's, Governing Laws 6
3.1 Mineral Resources Law 6
3.2 Law on Coal Industry 6
3.3 Law on Safety in Mines 6
3.4 Environmental Protection Law 6
3.5 Forestry Law 6
4 Chi's, Mining Licenses and Ownership 7
4.1 Ownership of Minerals 7
4.2 Exploration and Mining License 7
4.2.1 Issuance of License 7
4.2.2 Areas of Exploration 7
4.2.3 Terms of Exploration 7
4.3 Establishment of Coal Mining Enterprise 7
4.3.1 Coal Production License 8
4.3.2 Application requirements 8
4.3.3 Transfer of License 8
4.3.4 Cancellation of License 8
5 Chi's, Mining Rights and Obligations 9
5.1 Rights 9
5.2 Obligations 9
6 Chi's, Key Fiscal Terms 10
6.1 Mining fee 10
6.2 Royalty 10
6.3 Resource Tax 10
6.4 Urban and Township Tax 10
6.5 Land Appreciation Tax 10
6.6 Enterprise Resource Tax 11
6.7 Vehicle and Vessel Usage Tax 11
6.8 City Maintence and Construction Tax 11
6.9 Stamp Tax 11
6.10 Depreciation 12
6.11 Deductions 12
6.12 Loss Carry Forward 12
6.13 Capital Gain Tax (CGT) 13
6.14 Business Tax 13
6.15 Withholding Tax 13
6.16 Value Added Tax (VAT) 13
6.17 Tax Incentive 13
7 Appendix 14
7.1 What is this Report About? 14
7.2 Methodology 14
7.3 Secondary Research 14
7.4 Primary Research 14
7.5 Contact Timetric 15
7.6 About Timetric 15
7.7 Timetric's Services 16
7.8 Disclaimer 17


List of Tables
Table 1: Mining Industry in Chi, Fiscal Regime Terms and Other Taxes 2
Table 2: Mining Industry in Chi, Land Use Tax Rates (CNY), 2014 10
Table 3: Mining Industry in Chi, Land Appreciation Tax Rates (%), 2014 11
Table 4: Mining Industry in chi, Stamp Tax Schedule and Tax Rates  (%), 2014 12
Table 5: Mining Industry in Chi, Depreciation Years, 2014 12
Table 6: Mining Industry in Chi, Business Tax Rates (%), 2014 13