Kazakhstan's Mining Fiscal Regime: H1 2014

Kazakhstan's Mining Fiscal Regime: H1 2014

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Published on Feb 01, 2014 - 19 pages

Kazakhstan produces a variety of mineral resources such as gold, copper, silver, uranium, coal, iron ore, and other ferrous and non-ferrous metals. The mining industry in Kazakhstan is governed by the Ministry of Industry and New Technology and Ministry of Environmental Protection. The Law of Subsoil and Subsoil Use is the main regulating law for mining activities in the country.

Report Highlights
  • The mining industry in Kazakhstan is governed by the Ministry of Industry and New Technology and Ministry of Environmental Protection.
  • The Law of Subsoil and Subsoil Use is the main regulating law for mining activities in the country.
  • Departments under the Ministry include the Investment Committee, the Industry Committee, the Committee for Technical Regulation and Metrology, the Committee for State Energy Supervision and Control, the Tourism Industry Committee, and the Committee for Geology and Subsoil use.
  • The Ministry of Economic Development and Trade is the executive body of the Republic of Kazakhstan. It is responsible for the implementation of state policy, legislation on the commodity market and promotional activities in investment and trade.
Report Scope

The report outlines Kazakh's governing bodies, governing laws, mine ownership and licenses, mining rights and obligations, key fiscal terms which includes Signing Bonus, Commercial Discovery Bonus, Payment to Compensate for Historic Cost, Tax on Production of Useful Minerals, Excess Profits Tax, Land Tax, Corporate Income Tax, Loss Carry Forward, Withholding Taxes, VAT.

Reasons to Get this Report

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

Table of Contents

1 Executive Summary 1
2 The Kazakh Mining Industry - Governing Bodies 6
2.1 Ministry of Industry and New Technology 6
2.2 Ministry of Economic Development and Trade 6
2.3 Ministry of Environment Protection 6
2.4 Kazakhstan Atomic Energy Committee (KAEC) 6
3 The Kazakh Mining Industry - Governing Laws 7
3.1 Law of Subsoil and Subsoil Use 7
3.2 Law on Atomic Energy Use 7
3.3 Law on Radiation Safety of Population 7
4 The Kazakh Mining Industry- Mining Ownership and Licensing Methods 8
4.1 Mining Ownership 8
4.2 Licensing Type 8
4.3 Duration and Area 8
5 The Kazakh Mining Industry - Mining Rights and Obligations 9
5.1 Rights 9
5.2 Obligations 9
6 The Kazakh Mining Industry - Key Fiscal Terms 10
6.1 Upfront Payments and Taxes on Subsurface Usage 10
6.1.1 Signing Bonus 10
6.1.2 Commercial Discovery Bonus 10
6.1.3 Payment to Compensate for Historic Cost 10
6.1.4 Tax on Production of Useful Minerals 10
6.1.5 Excess Profits Tax 11
6.2 Corporate Income Tax (CIT) 11
6.3 Capital Gains Tax 11
6.4 Land Tax 12
6.5 Social (Payroll) Tax 12
6.6 Vehicle Tax 12
6.7 Deductions 12
6.8 Depreciation 12
6.9 Loss Carry Forward 12
6.10 Withholding Taxes 13
6.11 Value Added Tax (VAT) 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: The Mining Industry in Kazakhstan - Fiscal Regime Terms and Other Taxes 1
Table 2: The Mining Industry in Kazakhstan - Tax on Production of Useful Minerals (%), 2014 11
Table 3: The Mining Industry in Kazakhstan - Excess Profit Tax Rates (%), 2014 11
Table 4: The Mining Industry in Kazakhstan - Transportation Tax Rates (%), 2014 12
Table 5: The Mining Industry in Kazakhstan - Depreciation Groups and Rates (%), 2014 12
Table 6: The Mining Industry in Kazakhstan - Withholding Tax Rates (%), 2014 13


List of Figures

Figure 1: The Mining Industry in Kazakhstan - Commodity Mines at Different Stages 1