taxation in mining industry

The future of tax in mining | Deloitte | Tracking the Trends

2018 mining tax trends Moving the economic contribution conversation into the public domain. Senior mining executives need to step out of the boardroom and into the public conversation and articulate the contributions their business makes to the communities and host countries in which they operate.

Internal Revenue Service

General Tax Accounting Principles in the Mining Industry The mining industry maintains certain accounting practices and principles that are somewhat unique to the industry. The following descriptions attempt to briefly describe these principles. Mineral Property Concepts

Tax Solutions for Mining | Taxation Services | Deloitte ...

Mining Tax. There is a special tax dispensation for the mining industry which is contained in Sections 15 and 36 of the Income Tax Act. Deloitte assist clients in optimising the deductions with a specific emphasis on capital expenditure. Tax Technology. We have developed a specific mining tax module for our corporate tax software solution ...

Fiscal Decentralization and Mining Taxation

decentralization debate, examines whether there are reasons the mining industry should be treated differently from other taxed sectors with regard to tax decentralization policy, and looks at a variety of tax types and incentives commenting on each from a tax decentralization perspective. 2. The Historical Basis of the Debate

Corporate income taxes, mining royalties and other mining ...

PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 3 as “ring fencing”. The Ghana government, in the 2012 Budget Statement, proposed an increase to the corporate income tax rate from 25% to 35% and an additional tax of 10% on mining companies. Ghana’s proposed tax increases are likely to take


0 10 20 30 ideal range? ETR = 40-50% 40 50 60 70 Uzbekistan Ivory Coast Mongolia Ghana Guinea Greenland USA (Arizona) Mexico Poland Tanzania Peru Indonesia Kazakstan

Taxation | Minerals Council of Australia

The mining industry is highly competitive, with other resource-rich economies trying to capture future opportunities in resource development. A combination of state and territory royalties and a high rate of federal company tax means Australia is a relatively high tax jurisdiction for mining.

Mining Taxation in Canada | Natural Resources Canada

The mining industry is a highly cyclical and capital-intensive, with a long lead time between initial investment and commercial production. Accordingly, the federal and provincial income tax and provincial mining tax systems treat exploration and other intangible mining expenses generously.

A Guide to Canadian Mining Taxation

mining industry with their own policies, regulations and taxes. When mining is in a rising commodity price cycle, as it was in the first decade of this century, governments tend to . raise mining taxes to capture a higher share of profits. When mining reverts to a falling commodity price cycle, as it is doing

(PDF) Special Taxation of the Mining Industry*

The efficiency and equity arguments for changing the structure of, and the aggregate level of, special taxation of the mining industry are reviewed. An economic rent base tax would cause smaller ...

Report on Taxation in the Mining Industry (BMR Record 1948/87)

of the Inoome Tax Act which apply more spccif:i.cally to the mining industry. Wi th the exception of Sec tions 23{ c}, (m), (0) and (p), the Sections specific to mining aro concerned with some particular capital aspect, and ls.rgcly reCOGnise that a mineral deposit is a wasting asset. A purposo'of tho Report

Mining and metals tax guide - August 2018

Union. The General Law of Taxation was introduced in 1993 and provides the infrastructure for the tax regime and other tax laws followed. There are four principal tax laws affecting companies in the mining sector: 1. The General Law of Taxation: This law contains general provisions relating to tax but does not impose taxation. It

The Tax Treatment of the Mining Sector: An IMF Perspective

The Tax Treatment of the Mining Sector: An IMF Perspective Emil M. Sunley and Thomas Baunsgaard1 This session of the workshop addresses the question of whether the development of the mining sector requires a sector specific taxation regime. The simple answer is “Yes.” The government, as resource owner, has a valuable asset in the ground.

Taxation of the Mining Industry in Chile: An Update | The ...

Taxation of the Mining Industry in Chile: An Update Rodrigo Valenzuela , Mining Law & Investment in Latin America (2003) Mining taxation is not the set of special tax rules applicable only to the mining industry, but rather it is the set of general tax rules that have an especially significant impact on the industry.

Mining Tax | The Facts about the MRRT (Mineral Rent Resource Tax)

Source: Economists back mining tax (ABC News) | Mining New Depths of Political Bastardy (The Daily Telegraph) Myth 2: The tax will hurt the mining industry. Update: Clive Palmer, the self-declared spokesman for the mining industry, has recently retracted his claims that he had scrapped mining projects due to the resource tax.

Mining and tax in South Africa: Costs and benefits

expenditures against tax while gold mining companies pay a corporation tax rate according to a formula that keeps remittances to government low. Moreover, the government is introducing a new mineral royalty system after caving in to many of the mining industry’s demands: this

Peru Mining and metals tax guide May 2017

The fiscal regime that applies to the mining and metals industry in Peru consists of a combination of corporate income tax, royalties and other levies. Income tax rate 29.5% Dividend distribution 5% Modified mining royalty 1%–12% of operating income Special mining tax 2%–8.40% of operating income Special tax burden 4%–13.12% of operating ...

Mining Tax Canada | Welcome to Mining Tax Canada

Mining Tax Canada is an educational resource for those interested in the Canadian taxation of mining. It seeks to explain the most important elements of the Canadian tax system as it applies to mining, in a non-technical, user-friendly way. The Canadian tax rules governing mining are very complex (even by tax standards) and require professional ...

Mining and metals | PwC Australia

Mining is crucial to the economy. But the future of mining is likely to look different from the industry we know today. The disruptive forces of technology and political change that are reshaping governments and business sectors are also reshaping mining. What can industry executives do today to ...

Taxation of Extractive Industries: Mining - Oxford Scholarship

The taxation of the mining industry varies considerably from nation to nation and evolves over time, reflecting the response of politicians and tax authorities to a variety of factors including commodity price cycles, levels of investor interest, and changing national objectives.

Mining 2020 | Laws and Regulations | USA | ICLG

General federal, state, county and municipal taxes apply to mining companies, including income taxes, payroll taxes, sales taxes, property taxes and use taxes. Federal tax laws generally do not distinguish between domestic and foreign mining operators. However, if a non-US citizen acquires real property, the buyer must deposit 10% of the sale ...

Consultation Draft

This toolkit looks at tax incentives in the mining sector. For many developing countries, receipts from mining are often a major source of revenue. The central task for policy makers, therefore, is to design fiscal regimes for the mining industry that raise sufficient revenue, whilst providing adequate inducement to invest.

Taxation of Mining Operations | LexisNexis Store

View a sample of this title using the ReadNow feature. Thorough, in-depth treatment, expert analysis of the issues, laws, regulations, cases and rulings that govern federal income taxation of operations involving minerals other than oil and gas.

Mineral royalties and other mining- specific taxes

MIneral royaltIes anD other MInIng-speCIfIC taxes MIneral taxes Mineral royalty and tax types and their characteristics As special taxes for the mining sector are, in principle, directed at the net value of the mineral resource after the deduction of costs of production including normal profits, they should be levied as

Mining Tax | The Facts about the MRRT (Mineral Rent Resource Tax)

Source: Economists back mining tax (ABC News) | Mining New Depths of Political Bastardy (The Daily Telegraph) Myth 2: The tax will hurt the mining industry. Update: Clive Palmer, the self-declared spokesman for the mining industry, has recently retracted his claims that he had scrapped mining projects due to the resource tax.

Understanding income and mining taxation in Canada

You can improve your knowledge on this topic and help your clients better manage their tax risks with PwC’s detailed guide, Canadian mining taxation 2013. Developed by the organization’s Canadian mining industry team, this document offers in-depth information on the framework and features of the mining tax regime in this country.

Mining Royalties - ISBN: 0821365029

Of the issues currently debated in the international mining industry, none is as pertinent and possibly challenging as mining taxation. At this moment of high commodity prices, in early 2006, many mining com-panies—juniors and majors, local and international—are stepping up

Mining royalties : a global study of their impact on ...

Mining royalties : a global study of their impact on investors, government, and civil society (English) Abstract. Eight leading authorities from around the world have collaborated to produce this volume which provides a thorough treatment of mineral royalties.

Fiscal Incentives In The Mining Sector-Zimbabwe | Ministry of ...

INCOMETAX Taxable Income of a Holder of Special Mining LeaseA holder of a special mining lease, corporate income is taxed at a special rate of 15% instead of the general tax rate of 25%.However, holders of a Special Mining Lease are liable to Additional Profits Tax (APT).