Boston, MA -- (SBWIRE) -- 08/01/2014 -- The mining industry in Germany is governed by the Federal Ministry of Economics and Technology (FMET) and Federal Institute for Geosciences and Natural Resources (BGR). The Federal Mining Act 1980 is the main regulating act for mining industry in the country.
- The Federal Ministry of Economics and Technology's (FMET) main objective is to ensure Germany's sustainable growth and competitiveness with other economies.
- The Federal Institute for Geosciences and Natural Resources (Bundesanstalt fur Geowissenschaften und Rohstoffe - BGR) is an agency within the FMET. It provides advice to the German federal government on issues related to natural resources and geoscience.
- The Federal Mining Act 1980 (Bundesberggesetz) was passed on August 13, 1980 and applies to the exploration and exploitation of mineral resources.
- The corporate tax rate applicable in Germany is 15%. An additional 5.5% surtax is also levied on corporate tax.
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The report outlines Germany's governing bodies, governing laws and key fiscal terms which includes Corporate Income Tax, Withholding Tax, Depreciation, Loss Carry Forward, Trade Tax / State Tax (Gewerbesteuer), Real Property Transfer Tax and Value Added Tax, VAT.
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