The Kemerovo region adopted a local decree “On taxation of organizations that mine iron ore”.
Because of the iron ore price drop, the mining in the region has been on the brink of profitability for the past couple of years. The regional MPs decided to decrease the tax burden of the ore-miners.
From 2013 to 2017 the property tax for such companies was 0%. It has been decided to prolong the duration of the decree for the year 2017. (Ukrainian metal)