Chile Mining Industry Fiscal Regime Analysis Including Governing Bodies, Regulations, Licensing Fees, Taxes and Royalties, 2023 Update

Chile Mining Industry Fiscal Regime Analysis Including Governing Bodies, Regulations, Licensing Fees, Taxes and Royalties, 2023 Update

Summary

GlobalData's Chile Mining Industry Fiscal Regime Analysis Including Governing Bodies, Regulations, Licensing Fees, Taxes and Royalties, 2023 Update provides a comprehensive analysis of the mining sector in Chile, focusing on key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. The report also includes mining related taxes and royalties.

The Ministry of Mining, National Service of Geology and Mining, Ministry of Energy, Ministry of Environment and Chilean Copper Commission are the primary regulatory authorities which govern the mining industry in Chile, while the Mining Code and the Constitutional Organic Law on Mining Concessions are responsible for granting mining concessions for either exploration or exploitation. The Chilean fiscal regime report outlines the governing bodies, governing laws, licenses, rights and obligations and tax related information on mineral commodities. On 17 May 2023, the Chilean Lower Chamber of Congress approved the latest amendment to the royalty's bill, which will require large companies to pay more taxes and royalties to the government. Under the new reforms, tax rate of up to 47% will be levied on companies producing more than 80,000 tonnes of fine copper a year. It also levies a 1% ad valorem tax on copper sales on companies that sell more than 50,000 tonnes of fine copper, as well as an additional 8% to 26% tax depending on the miner's operating margin.

Scope

• The report focuses on the mining fiscals' key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. The report also includes mining related taxes and royalties.

Reasons to Buy

• To help businesses navigate the complexities and comply with the necessary requirements
• To enable stakeholders to make informed decisions by understanding the current state of the mining sector in Chile
• To help evaluating the level of accountability and stability within the industry
• To help evaluate and manage potential challenges effectively
• To understand country's overall mining fiscal landscape
• To provide valuable insights for stakeholders, policymakers, and investors in understanding the dynamics and potential of the country's mining industry
• To help businesses understand challenges and proactively develop risk mitigation strategies