Taxation of Mineral Products in Russian Federation
- Bloshenko Alekseevna
The Code of Joint Ore Resources Committee (the JORC Code) is widely adopted be mining industry for the compiling of mineral resources and reserves reporting.
The results of information transfer from one system to another will depend on the nature of deposit and complexness of its geological construction of mineral extraction tax base.
The basis for placing the resources on the State Balance Sheet in Russian Federation are the opinion letters of the state expert appraisal bodies, according to which, the licenses are granted to the users of subsurface resources.
For the purpose of taxation, the chapter 26 of the Tax Code of Russian Federation accepted the “multicomponent complex ores”. However, this term is interpreted in different ways, which complicates the definition of the taxation objects.
The author of this article proposed to state the whole list of minerals, in the production license.
It is proposed to exclude the “multicomponent complex ores” term from the chapter 26 of the Tax Code of Russian Federation, for the purpose of non-admission of interpretation of this term in different ways.
While processing mineral raw material we have basic product and by-products and wastes products.
The sale proceeds are 3% from the accounting basic production. If the sale proceeds from realization of the by-product is more than 3%, this product is basic. This criterion is developed for taxation.
The use of recycled resources is aimed at reducing of environmental risks. It is important for economic and environmental stability of country. Methods for determination of tax rates on mining (exampled at the estimation of raw materials’ cost and indirect estimation method for determining the amount of minerals and the price factor) are considered in this article.
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