Increase in the Tax Burden on Iron Ore Mining.

The Ukraine Parliament adopted Tax law №5600 which increases the tax burden on iron ore mining. Amendment №97, which sought to reduce taxes, was rejected in the VR despite previous support from the committee. In addition to changing the rental rates for ore mining, the bill amends the taxation system of farmers, real estate sales, environmental tax, and excise tax. №5600 allows the collection of rent from the market value of ore with a higher ore content, namely the index IODEX 62% FE CFR China, calculated by the news agency Platts. In this case, the higher this market value – the higher the rental rate, reported epravda.