Uzbekistan's Mining Fiscal Regime: H1 2014

Uzbekistan's Mining Fiscal Regime: H1 2014

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Published on Mar 01, 2014 - 19 pages

The mining industry is Uzbekistan is governed by the State Committee of the Republic of Uzbekistan on Geology and Mineral Resources, The State Inspectorate for Supervision and the State Committee of the Republic of Uzbekistan for Nature Protection. Law of the Republic of Uzbekistan "On Subsoil" is the apex law for mining industry in Uzbekistan. According to the Subsoil law, minerals in Uzbekistan are the property of the state, subject to rational use and protection by the state.

Report Highlights
  • The mining industry is Uzbekistan is governed by the State Committee of the Republic of Uzbekistan on Geology and Mineral Resources, The State Inspectorate for Supervision and the State Committee of the Republic of Uzbekistan for Nature Protection.
  • The State Committee of the Republic of Uzbekistan for Nature Protection has been established by the Decree of the Presidium of Supreme Soviet of Uzbek SSR .
  • The State Inspectorate for Supervision is overseen by the council of Ministers of the USSR formed by № 1048 of December16, 1947. On the basis of the Cabinet of Ministers of January 10, 1996 № 17 Gosgortechnadzor Uzbek SSR was renamed the State the State Committee of Uzbekistan.
  • According to the law, minerals are the property of the State in Uzbekistan. The basic main of the law is to regulate the scope of the relationship when processing, using and disposing of subsoil.
Report Scope

The report outlines Uzbek's governing bodies, governing laws, mine licenses, rights and obligations, key fiscal terms which includes Subsoil use tax, Excess profit tax, Bonus (Subscription and Commercial Exploration), Corporate Tax, Real property tax, Withholding tax, Depreciation, Losses Carried Forward and VAT.

Reasons to Get this Report

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

Table of Contents

1 Executive Summary 1
2 The Uzbek Mining Industry - Governing Bodies 6
2.1 State Committee of the Republic of Uzbekistan on Geology and Mineral Resources 6
2.2 State Committee of the Republic of Uzbekistan for Nature Protection 6
2.3 State Inspectorate "Sanoatgeokontekhnazorat" 6
3 The Uzbek Mining Industry - Governing Laws 8
3.1 Law of the Republic of Uzbekistan "On Subsoil" 8
3.2 Law of the Republic of Uzbekistan "On Radiation Safety" 8
3.3 Law of the Republic of Uzbekistan "On Concessions" 8
3.4 Law "On Product Sharing Agreements" 8
4 The Uzbek Mining Industry - Mining Licenses 9
4.1 License for Geological Study 9
4.2 License to Use Subsoil 9
4.3 Mining Allotment 9
5 The Uzbek Mining industry - Rights and Obligations 10
5.1 Rights 10
5.2 Obligations 10
6 The Uzbek Mining Industry - Key Fiscal Terms 11
6.1 Subsoil use tax 11
6.2 Excess profit tax 11
6.3 Bonus (Subscription and Commercial Exploration) 11
6.4 Corporate Tax 12
6.5 Real property tax 12
6.6 Withholding tax 12
6.7 Depreciation 12
6.8 Losses Carried Forward 13
6.9 Value Added Tax (VAT) 14
7 Appendix 15
7.1 What is this Report About? 15
7.2 Methodology 15
7.3 Secondary Research 15
7.4 Primary Research 15
7.5 Contact Timetric 16
7.6 About Timetric 16
7.7 Timetric's Services 17
7.8 Disclaimer 18


List of Tables

Table 1: The Mining Industry in Uzbekistan - Fiscal Regime Terms and Other Taxes 1
Table 2: The Mining Industry in Uzbekistan - Subsoil Tax (%), 2014 11
Table 3: The Mining Industry in Uzbekistan - Subscription Bonus, 2014 12
Table 4: The Mining industry in Uzbekistan - Depreciation Tax Rate (%), 2014 13


List of Figures

Figure 1: The Mining Industry in Uzbekistan - Commodity Mines at Different Stages 2