Fast Market Research recommends "Turkey's Mining Fiscal Regime: H2 2014" from Timetric, now available
Boston, MA -- (SBWIRE) -- 02/12/2015 -- Turkey has a variety of mineral resources, including iron ore, copper, nickel, cobalt, and gold. The country's mining industry is governed by the Ministry of Energy and Mineral Resources. Mining Law No. 3213 of 1985, amended by Law No. 5995 of June 2004, provides both local and foreign investors with a more investment-friendly environment.
- The Ministry of Energy and Natural Resources (MENR) was formed in December 25, 1963 and is responsible for streamlining the use of energy and mineral resources to reduce Turkey's dependency on external sources and maximize its contribution to the country's welfare.
- The General Directorate of Mining Affairs (MIGEM), a unit under MENR, is responsible for regulating mining affairs in Turkey.
- Turkey's mining regime is governed by the Mining Law No. 3213 of 1985, amended by Law No. 5995 of June 2010.
- Under Turkey's mining regime, underground resources fall under state ownership and disposition.
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The report outlines Turkey's governing bodies, laws, licenses, rights, obligations and tax-related information which includes Duties and Security Deposits (Guarantee Fees), royalty rates, Corporate Tax, capital gain tax, loss carry forward, property tax, withholding tax, tax incentives, stamp duty, motor vehicle tax, depreciation and value added tax (Vat).
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