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Turkey’s Mining Fiscal Regime 2018 - A Focus on Governing Bodies, Taxes, and Royalties

Turkey’s Mining Fiscal Regime 2018 - A Focus on Governing Bodies, Taxes, and Royalties

Summary

Turkey comprises an abundance of reserves of precious and base metals. The value of the country’s mining industry is expected to expand by 28.1% in 2018 from that of 2013, backed by increased metal production coupled with surged demand for metals.

The Ministry of Energy and Natural Resources (MENR) and General Directorate of Mining Affairs (MIGEM) are the two mining industry regulatory authorities in Turkey. MENR is responsible for contributing to national welfare by making use of natural resources and energy in the most efficient way. MIGEM regulates all the mining affairs in Turkey. Turkey improved by nine places in terms of ease of doing business in the 2018 rankings.

The report Turkey’s Mining Fiscal Regime 2018, outlines the country’s mining governing bodies, laws, rights and obligations, and tax- and fee- related informationon mineral commodities -

  • Mining Law No. 3,213 of 1985, amended by Law No. 6,592 of 2015. The recent amendment aims to begin the auction of license areas and a new royalty framework was introduced based upon price of minerals.
  • The corporate tax rate has increased from 20% to 22% for 2018-2020.
    • Scope
      • The report outlines the governing bodies, laws, rights and obligations and key fiscal terms which includes royalties, corporate tax, withholding tax, property tax, and value added tax (VAT).
      Reasons to buy
      • To gain an overview of the Turkey's mining fiscal regime
      • To indentify Turkey's governing bodies, major laws in the industry, rights and obligations
      • To Identify Major taxes applciable in the country.


    1 Table of Contents
    1.1. List of Tables
    1.2. List of Figures
    2. Turkey’s Mining Fiscal Regime: Executive Summary
    3. Turkey’s Mining Fiscal Regime: Ease of Doing Business
    4. Turkey’s Mining Fiscal Regime: Governing Bodies, Laws, and Regulations
    4.1. Ministry of Energy and Natural Resources (MENR)
    4.1.1. General Directorate of Mining Affairs (MIGEM)
    4.1.2. Turkish Atomic Energy Commission (TAEK)
    5. Turkey’s Mining Fiscal Regime: Laws, Rights, and Obligations
    5.1. Mining Law
    5.1.1. Group I (10ha)
    5.1.2. Group II (100ha)
    5.1.3. Group III (500ha)
    5.1.4. Group IV (2000ha)
    5.1.5. Group V (1000ha)
    5.2. Rights
    5.2.1. Mining Rights
    5.2.2. Transfer of Mining Rights
    5.2.3. Discovery Rights
    5.2.4. Rights of Easement and Usufruct Exploration
    5.3. Obligations
    5.3.1. Exploration and Operation License
    5.3.2. Mining Areas
    5.3.3. Production and Dispatch
    6. Turkey’s Mining Fiscal Regime: Mining Licenses and Fees
    6.1. Ownership of Minerals
    6.2. Mining License
    6.3. Exploration License/Certificate
    6.4. Operation License
    6.5. Operation Permits
    6.6. Mining License Fee
    6.6.1. Exploration Licenses:
    6.6.2. Operation Licenses:
    7. Turkey’s Mining Fiscal Regime: Taxes and Royalties
    7.1. Royalty Rate
    7.2. Corporate Income Tax (CIT)
    7.3. Value-Added Tax (VAT)
    7.4. Withholding Tax
    7.5. Property Tax
    7.6. Stamp Duty Tax
    7.7. Motor Vehicle Tax
    8. Appendix
    8.1. Abbreviations
    8.2. Methodology
    8.2.1. Coverage
    8.2.2. Secondary Research
    8.3. Contact Us
    8.4. Disclaimer
    1.1 List of Tables
    Table 1: Turkey’s Mining Fiscal Regime - Key Taxes and Royalty Rates, 2018
    Table 2: Turkey’s Mining Fiscal Regime - Ease of Doing Business in Turkey, Global Ranking, June 2016-June 2017
    Table 3: Turkey’s Mining Fiscal Regime - Royalty Tax Rate (%), 2015
    Table 4: Turkey’s Mining Fiscal Regime - Withholding Tax Rate (%), as of February 2018
    1.2 List of Figures
    Figure 1: Turkey’s Mining Fiscal Regime - Country Overview, 2018
    Figure 2: Turkey’s Mining Fiscal Regime - Ease of Doing Business in Turkey, Global Ranking, June 2016-June 2017

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