Home / News / Mining industry / OLE will support the law on increasing the rent for subsoil use in Ukraine

OLE will support the law on increasing the rent for subsoil use in Ukraine

Mining industry / Ukraine

The Opposition Platform - For Life (Opposition Platform) faction will support in the first reading bill # 1210, which increases the rent for the extraction of manganese ores by 1.25% and the extraction of iron ore by 2%.

OLE will support the law on increasing the rent for subsoil use in Ukraine

A researcher at the Department of Land Relations and Environmental Management of the National Scientific Center "Institute of Agrarian Economics" of the National Academy of Agrarian Sciences, deputy of the Verkhovna Rada from the OLE of Ukraine Alexander Koltunovich said that his faction would support the bill on increasing the rent rate for subsoil use in the first reading.

In addition, Koltunovich said that he is in favor of introducing an export duty on the export of unprocessed ores from the country in order to deepen processing and "stimulate a departure from the raw material economy."

"We are in favor of developing an innovative economy, so that we create added value in the country, and not export ore," he said.

Representatives of the MMC of Ukraine note that in connection with attempts by parliamentarians to adopt amendments to the Tax Code of the country, the tax burden on ore mining will increase by 5 times. That is, it will be unprofitable to manufacture products subject to increased rent payments and double taxation of processed products.

As reported, due to the increase in the rent, Ukraine may lose 70% of ore exports and, as a result, about 30% of all foreign exchange earnings. In this case, the railway industry may lose 40% of the volume of cargo transportation.

The rise in the cost of iron ore mining in Ukraine will lead to an increase in labor migration, experts emphasize. According to a study by one of the representatives of the four world auditors - PWC, tax initiatives laid down in bills № 1210 and № 1210-1 will make ore mining in Ukraine 9 times more expensive than in Russia.

МЕТАЛЛУРГПРОМ
Partner news
Сomments
Add a comment
Сomments (0)
To comment
Войти с ВК Войти с ФБ Войти с Яндекс
Sign in with:
Войти с ВК Войти с ФБ Войти с Яндекс