Albany, NY -- (SBWire) -- 10/29/2014 --Synopsis
Timetric's China fiscal regime report covers the governing bodies, laws, mining licenses and ownerships, mining rights and obligations and tax-related information on 11 commodities: coal, iron ore, copper, zinc, bauxite, gold, silver, nickel, chromium, manganese and uranium
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Executive summary
The country’s mining industry is governed by the Ministry of Land and Resources, as well as 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, laws, mining licenses and ownerships, mining rights and obligations and key fiscal terms which includes Royalty, Resource Tax, Urban and Township Tax, Land Appreciation Tax, Enterprise Resource Tax, Vehicle and Vessel Tax, City Maintenance and Construction Tax, Stamp Tax, Depreciation, Deduction, Loss Carry Forward, Capital Gain Tax, Business Tax, Withholding Tax Value Added Tax, VAT and Tax Incentives.
Key highlights
The Ministry of Land and Resources (MLR) is the main governing body for mining activities in China, and is responsible for the planning, administration, protection and optimum utilization of land, minerals and marine resources.
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.
The Department of Resource Conservation and Environmental Protection, under the NRDC, is responsible for the analysis of issues related to the environment and natural resources.
The Mineral Resources Law (amended on August 29, 1996) is the prime law regulating China’s mining industry, which covers regulations and directives for the development of the mining industry, the promotion of exploration, the development of mines, and the utilization and protection of mineral resources.
This law was adopted in November 1992 with the aim of ensuring the safety of mine staff; it issues guidelines related to the development of mines and the prevention of mining accidents.
Table of Contents
1 Executive Summary
2 The Chinese Mining Industry – Governing Bodies
2.1.1 Ministry of Land and Resources (MLR)
2.1.2 National Development and Reform Commission (NDRC)
2.1.3 National Energy Administration (NEA)
2.1.4 Department of Resource Conservation and Environmental Protection
3 The Chinese Mining Industry – Governing Laws
3.1 Mineral Resources Law
3.2 Land Administration Law
3.3 Law on Coal Industry
3.4 Law on Safety in Mines
3.5 Environmental Protection Law
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Chinas Mining Fiscal Regime: H2 2014 - Market Share,Growth,Trends
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