Kyrgyzstan’s Mining Fiscal Regime: H1 2014

Kyrgyzstan has substantial deposits of coal and gold. Mineral resources form much of the country’s economic potential. Its mining industry is governed by the Ministry of Industry, Energy and Fuel Resources and the State Geology Agency for Geology and Mineral Resources. The Law of the Kyrgyz Republic “On Subsoil” is the apex law for the mining industry in Kyrgyzstan.

Scope

The report outlines Kyrgyzstan’s governing bodies, governing laws and key fiscal terms which includes, Tax on use of Subsoil, Bonuses, Royalty, Corporate Income Tax, Land Tax, Withholding Tax, Depreciation, Loss Carry Forward and Value Added Tax (VAT).

Key Highlights

• The Ministry of Industry, Energy and Fuel Resources of the Kyrgyz Republic is the central state executive authority carrying out state policy on the development of the energy sector and industry, coal mining, pipelines and renewable energy.

• The State Agency on Geology and Mineral Resources of the Kyrgyz Republic is the public agency that implements policy in the field of subsoil use and the development of the mining industry.

• The State Agency on Geology and Mineral Resources under the Kyrgyz government administers the licensing of subsoil use. Licensing is mandatory for all types of mineral subsoil use.

• The Geology Department is part of the State Agency for Geology and Minerals of the Kyrgyz Republic.

Reasons to buy

To gain an overview of Kyrgyzstan's mining fiscal regime.

Companies mentioned

Table of Contents

1 Executive Summary 1

2 The Kyrgyz Mining Industry – Governing Bodies 5

2.1 The Ministry of Industry, Energy and Fuel Resources of the Kyrgyz Republic 5

2.2 The State Agency on Geology and Mineral Resources of the Kyrgyz Republic 5

2.2.1 Licensing Department 5

2.2.2 The Geology Department 5

2.2.3 Subsurface Protection Department 5

3 The Kyrgyz Mining Industry – Governing Laws 6

3.1 The Law of the Kyrgyz Republic “On Subsoil” 6

3.1.1 Granting subsoil use rights 6

3.1.2 Effective terms of subsoil use 6

3.1.3 Procedures for granting subsoil rights 6

3.1.4 Suspension and termination of subsoil use rights 7

4 The Kyrgyz Mining Industry – Key Fiscal Terms 8

4.1 Tax on use of Subsoil 8

4.1.1 Bonuses 8

4.1.2 Royalty 8

4.2 Corporate Income Tax 8

4.3 Land Tax 8

4.4 Withholding Tax 8

4.5 Depreciation 8

4.6 Loss Carry Forward 9

4.7 Value Added Tax (VAT) 9

5 Appendix 10

5.1 What is this Report About? 10

5.2 Methodology 10

5.3 Secondary Research 10

5.4 Primary Research 11

5.5 Contact GlobalData 11

5.6 About GlobalData 11

5.7 GlobalData’s Services 12

5.8 Disclaimer 13

List of Tables

Table 1: The Mining Industry in Kyrgyzstan – Fiscal Regime Terms and Other Taxes (%), 2014 1

Table 2: The Mining Industry in Kyrgyzstan – Depreciation Tax (%), 2014 8

List of Figures

Figure 1: The Mining Industry in Kyrgyzstan – Commodity Mines at Different Stages (Number of Mines), 2014 1

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