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Finland’s Mining Fiscal Regime: H1 2014

16 pages report Published in Jul 2014
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Synopsis

Timetric’s Finland fiscal regime report outlines governing bodies, governing laws, mining licenses/permits and compensation, permit holder obligations, compensation and collateral and key fiscal terms covering 11 commodities: coal, iron ore, copper, zinc, gold, silver, nickel, chromium, lead, uranium and platinum.

Summary

The country’s mining industry is governed by the Geological Survey of Finland (GTK) and the Finnish Safety and Chemicals Agency (Tukes). The Mining Act and Environmental Protection Act are the main laws regulating the mining industry.

Scope

The report outlines Finland’s governing bodies, governing laws, mining licenses/permits and compensation, permit holder obligations, compensation and collateral and key fiscal terms which includes Fees and Charges, Corporate Income Tax, Capital Gain Tax, Loss Carry Forward, Depreciation, Real Property Tax, Withholding Tax, Value Added Tax, VAT.

Key highlights

  • The Geological Survey of Finland (GTK) is an authoritative agency under the Ministry of Employment and the Economy (MEE) for mining activities in Finland.
  • The Finnish Safety and Chemicals Agency (Tukes) is the main authority for supervising mining activities in Finland. The Ministry of Employment and Economy (MEE) was previously responsible for governing the mining sector.
  • The Mining Act (621/2011) came into force on July 1, 2011. Its purpose is to promote mining activities, organize sustainable exploration, ensure mine safety, and reduce and combat activities that would adversely affect safety.
  • The Environmental Protection Act 4.2.2000/86 ensures the protection, elimination, and reduction of damage caused by pollution in Finland.

Reasons to buy

Gain an overview of Finland's mining fiscal regime.