Chile’s Mining Fiscal Regime: H1 2014

The Ministry of Mining and Ministry of Environment, among others, governs the mining industry in Chile. The Mining Code and Organic Constitutional Law on Mining Concessions are responsible for granting mining concessions for either exploration or exploitation.

Scope

The report outlines Chile’s governing bodies, governing laws, mining licenses, rights and obligations and key fiscal terms which includes business profit tax, tax on operational mining income, other taxes, municipal duty (commercial license), real estate tax, capital gains tax, stamp duty tax, depreciation, withholding tax and VAT.

Key Highlights

• The Ministry of Mining ensures the formulation of and compliance with mining policies, incorporating sustainability and technological innovation, to maximize the country’s economic, environmental and social development.

• The Ministry of Energy operates in collaboration with the President, and takes care of the governance and management of the energy sector.

• The Ministry of Environment ensures the protection of natural resources and is responsible for the development and implementation of various environmental management tools in law, and education environmental and pollution control.

• The National Service of Geology and Mining (Sernageomin) provides technical advice on geology and mining to the Ministry of Mining.

Reasons to buy

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

Companies mentioned

Table of Contents

1 Executive Summary 1

2 The Chilean Mining Industry – Governing Bodies 5

2.1 Ministry of Mining 5

2.2 Ministry of Energy 5

2.3 Ministry of Environment 5

2.4 Chilean Copper Commission 5

2.5 National Service of Geology and Mining 5

3 The Chilean Mining Industry – Governing Laws 6

3.1 Organic Constitutional Law on Mining Concessions 6

3.2 Mining Code 6

4 The Chilean Mining Industry – Mining Licences 7

4.1 Exploration License 7

5 The Chilean Mining Industry – Rights and Obligations 8

5.1 Rights 8

5.2 Obligations 8

6 The Chilean Mining Industry – Key Fiscal Terms 9

6.1 Business profit Tax 9

6.2 Tax on Operational Mining Income 9

6.3 Other Taxes 9

6.4 Municipal Duty (Commercial License) 9

6.5 Real Estate Tax 9

6.6 Capital Gains Tax 9

6.7 Stamp Duty Tax 10

6.8 Depreciation 10

6.9 Withholding Tax 10

6.10 Value Added Tax (VAT) 10

7 Appendix 11

7.1 What is this Report About? 11

7.2 Methodology 11

7.3 Secondary Research 11

7.4 Primary Research 11

7.5 Contact GlobalData 12

7.6 About GlobalData 12

7.7 GlobalData’s Services 13

7.8 Disclaimer 14

List of Tables

Table 1: The Mining Industry in Chile – Fiscal Regime Terms and Other Taxes 1

Table 2: The Mining Industry in Chile – Business Profit Tax (%), 2014 9

Table 3: The Mining Industry in Chile – Withholding Tax (%), 2014 10

List of Figures

Figure 1: The Mining Industry in Chile – Commodity Mines at Different Stages 1

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