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Payment for the retention of subsoil licenses and bonuses discussed

IBC
August 27, 2015

A final meeting of the working group to discuss the initiative of the State Agency for Geology and Mineral Resources to increase the rates of license withholding payments for subsoil use and bonuses. The meeting decided to pre-set minimum payment amounts for license withholding payments on all kinds of subsoil and not to raise rates for prospecting and exploration of mineral resources and the rates of bonuses. The recommendations will be considered at the next meeting of the Advisory Council on mineral resources policy under the Economy Ministry. The WG consists of representatives of the Economy Ministry, Finance Ministry, State Tax Service, State Agency for Geology and Mineral Resources and the business community.