Determining the rent rate for extraction of minerals, specifically, the iron ore is stipulated by Paragraph 252.20 Article 252 of the Tax Code of Ukraine.
According to this Paragraph of the Tax Code of Ukraine, tax liabilities from rent for the subsoil use for the extraction of iron ore for the II quarter of 2020 are calculated in the amount of:
- 12.00% rate, if the average value of iron ore according to the IODEX index 58% FE CFR China, which is officially determined by the world news agency Platts, for the tax (reporting) period is 70 or more US dollars;
- 11.00% rate, if the average value of iron ore according to the IODEX index 58% FE CFR China, which is officially determined by the world news agency Platts, for the tax (reporting) period is less than 70 US dollars.
