Spain’s Mining Fiscal Regime: H1 2014

The country’s mining industry is governed by the Ministry of Industry, Energy and Tourism (El Ministerio de Industria, Energía y Turismo) and General Department of Mines (La Subdirección General de Minas). Law 22/1973 of July 21 and Law 6/1977 – Development of Mining governs all minerals resources and establishes a legal framework for the research and exploitation of mineral and other geological resources.

Scope

The report outlines Spain’s governing bodies, governing laws, mining permits and key fiscal terms, which include corporate income tax, capital gain tax, withholding tax, depreciation, loss carry forward and value added tax (VAT).

Key Highlights

• The Ministry of Industry, Tourism and Trade ensures administration and accounts for the proposal and implementation of government policies and regulations on different industries and services, such as trade policy, small and medium-sized enterprises, energy and mining, tourism, telecommunications and social information.

• The General Department of Mines ensures the development and regulation aligning within General State Administration rights of different functions established by royal decree in the field of mining.

• Law 22/1973 is the main governing law that establishes a legal framework for the research and exploitation of mineral and other geological resources

Reasons to buy

Gain an overview of Spain's mining fiscal regime.

Table of Contents

1 Executive Summary 1

2 The Spanish Mining Industry – Governing Bodies 5

2.1 Ministry of Industry, Energy and Tourism (El Ministerio de Industria, Energía y Turismo) 5

2.2 The General Department of Mines (La Subdirección General de Minas) 5

3 The Spanish Mining Industry – Governing Laws and Permits 6

3.1 Law 22/1973 of July 21 6

3.2 Law 6/1977 – Development of Mining 6

4 The Spanish Mining Industry – Mining Permits 7

4.1 Exploration permit 7

4.2 Research Permit 7

4.3 Exploitation Permit 7

5 The Spanish Mining Industry – Key Fiscal Terms 8

5.1 Corporate Income Tax 8

5.2 Capital Gains Tax 8

5.3 Withholding Tax 8

5.4 Depreciation 8

5.5 Loss Carry Forward 8

5.6 Value Added Tax 8

6 Appendix 9

6.1 What is this Report About? 9

6.2 Methodology 9

6.3 Secondary Research 9

6.4 Primary Research 10

6.5 Contact GlobalData 10

6.6 About GlobalData 10

6.7 GlobalData’s Services 11

6.8 Disclaimer 12

List of Tables

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

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

List of Figures

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

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