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Synopsis
Timetrics Brazil Mining fiscal regime report outlines governing bodies, governing laws, mining licenses, rights and obligations and key fiscal terms covering 13 commodities: coal, iron ore, copper, zinc, bauxite, gold, lead, silver, chromium, nickel, platinum, uranium and manganese.
Summary
The mining industry in Brazil is governed by the Ministry of Mines and Energy (MME) and the Brazil Geological Survey (CPRM). The Mining Code of 1967 regulates all exploration and extraction activities of minerals in Brazil. The code specifies deposits and mines, and sets rules and regulations for authorization, concession, licensing and permits, and plans the duties of holders of mining rights and regulating authorities, among others.
Scope
The report outlines Brazils governing bodies, governing laws, mining licenses, rights and obligations and key fiscal terms which includes Royalty, Corporate Income Tax, Land Owner Royalty, Annual Tax, Withholding Tax, Depreciation and VAT.
Key Highlights
The mining industry in Brazil is governed by the Ministry of Mines and Energy (MME) and the Brazil Geological Survey (CPRM). The Mining Code of 1967 regulates all exploration and extraction activities of minerals in Brazil.
The MME came into existence in 1960. It is an apex body for the formulation and administration of regulations relating to the mining and energy industries resources.
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