Opening Hours : Providing solution design within 24 hours

Call Now

0086-21-58385887

namibia considers windfall tax on mining

  • Home
  • namibia considers windfall tax on mining

Ghana delays windfall tax | Miningreview

Sep 13, 2012 · tax Accra, Ghana --- 13 September 2012 - The government of Ghana has delayed implementing a windfall tax on mining profits while it considers whether to scrap the proposed levy, according to the head of the country's mining regulator. Reuters reports that .

Taxation in Namibia - Wikipedia

Income Tax. Personal income tax is applicable to total taxable income of an Individual and all individuals are taxed at progressive marginal rates over a series of income brackets. The tax year runs from 1 March to 28 February. Tax rates for the 2010/2011 to 2012/2013 tax years were as follows:

Get Price

MINING TAXATION IN AFRICA: LESSONS FROM THE .

MINING TAXATION IN AFRICA: LESSONS FROM THE ZAMBIAN CASE ... The DAs generally led to a special mining tax regime for the mine owners as follows: ... A graduated windfall (royalty) tax .

Get Price

India Proposes Windfall Tax on Non-Fuel Minerals - WSJ

NEW DELHI -- India's Mines Ministry has proposed a windfall tax on non-fuel minerals such as iron ore to claim part of what the government considers high profits earned by the mining sector.

Get Price

Botswana - ey

Mining and metals tax guide: Botswana EY | 2 The tax rate should not be less than the corporate rate, which is currently 22%. Based on a company's maximum profitability ratio of , the maximum tax rate is therefore 55%. Diamond mining companies can negotiate with the government of Botswana to agree on a tax rate to be used in

[PDF]Get Price

MINING TAXATION IN AFRICA: LESSONS FROM THE .

MINING TAXATION IN AFRICA: LESSONS FROM THE ZAMBIAN CASE ... The DAs generally led to a special mining tax regime for the mine owners as follows: ... A graduated windfall (royalty) tax .

Get Price

Bring Back Windfall Tax, Urges Opposition Leader | Zambia ...

Sep 01, 2017 · Bring Back Windfall Tax, Urges Opposition Leader. ... president Daniel Shimunza has called on government to seriously consider re-introducing windfall tax in view of the recent happenings in the mining sector. Shimunza has also noted the need for the country to come up with a strong mining .

Get Price

Namibia to hit miners with windfall tax - Miningmx

May 17, 2011 · [miningmx] — Namibia is looking to introduce a minerals windfall tax to enable the state to benefit more from the country's vast mineral resources, Mines and Energy Minister Isak Katali said on Tuesday. The move is the latest by Namibia, home .

Mining in Namibia - Wikipedia

The long tradition of mining in Namibia has been renewed with the reopening of the Tsumeb-area copper mines and smelter, the opening of the Skorpion zinc project, the expansion of the fluorspar and the gold mines, and continued offshore diamond development of the past few years.

[PDF]Get Price

Zambia mining companies to pay windfall tax arrears at 25% ...

Mining companies operating in Zambia and the government agreed that the windfall tax arrears would be reassessed at 25%, Finance and National Planning Minister Situmbeko Musokotwane told the Parliament on Thursday.

Get Price

Concession Agreement in Liberia: The Case of the ...

Jan 19, 2019 · The new 19% windfall tax would yield some 40 billion CFA francs ($79.1 million) in additional income to the state annually. Zambia, for example, had hoped to impose windfall profit taxes on copper mining to finance an infrastructure fund. Poor management of our natural resources results to No Economic Growth and No Growth, No Pro-Poor Agenda.

Get Price

Special Taxation of the Mining Industry - aph.gov.au

tax rate on mining is close to the statutory 30 per cent corporate tax rate. In the absence of any special taxes on the mining industry, economic rents earned on mining projects with relatively favourable natural endowments, or in times of commodity booms, are taxed at about the statutory rate of 30 per cent as corporate income.

Get Price

WHO BENEFITS FROM MINING? - Deloitte US

The Chamber of Mines of Namibia calculations show that the country's government already receives substantially more than 50% of mining profits, and these exclude additional revenues from non-residents shareholders tax (NRST) and pay-as-you-earn (PAYE) tax paid by mining employees (Chamber of Mines News, February 2012).

Get Price

Title of Thesis : Mining Windfall Taxes in Zambia ...

realized from copper mining taxes Windfall mining tax A tax levied by government against certain industries when economic conditions allow those industries to experience above-average profits. Windfall taxes are primarily levied on the companies in the targeted industry that have benefited the most from the economic windfall.

Get Price

Langer Heinrich dodged N$219 million tax - The Namibian

THE Namibian government lost N$219 million in taxes from the sale of shares in one of the world's largest uranium mines, Langer Heinrich, because the country's tax avoidance law is not up to ...

[PDF]Get Price

Proposed taxes could harm mining industry | African Mining ...

Dec 03, 2018 · T he mining industry is concerned that the proposed taxes in the income tax amendment bill of 2018 could be detrimental to the industry, and thus be counterproductive to growing the economy.. The Chamber of Mines' president Zebra Kasete made these remarks at the mining industry's briefing with mines and energy minister Tom Alweendo on Wednesday.

Get Price

Zambia : Government removes windfall tax on mining companies

The government has removed windfall tax in order to salvage the mining sector from collapse. However, the government has retained the variable profit tax, which will still capture any windfall ...

Get Price

Risk Management – The Political Risks of Mining

Apr 01, 2012 · This article is an excerpt from Willis' spring 2012 mining market report. The following represent some country-specific examples of how these risks have played out in different locations. Mongolia. Following high copper and gold prices in 2006, the Mongolian government hastily passed a windfall profits tax.

Get Price

Zambian Economist: The Argument for A Windfall Tax (Guest ...

In the words of President Rupiah Banda, government will not re-introduce the windfall tax for mining companies because it has the potential to stifle the growth of the mining sector : "The abolition of the windfall tax will remain intact and as government, we shall not listen to those calling for the bringing back of this tax, let them just watch and see what government is doing to attract ...

Get Price

Chamber of Mines :: Mining Tax Regime

Withholding tax. 10%. PAYE. See Appendix 1. Land tax (on valuation) Namibian citizens - 0.75%, Foreign Nationals – 1.5%. Provincial taxes. None. Municipal taxes. Services(Rates on Services) Exploration & Mining Licence Fees. Yes, schedule available from the office of the Mining Commissioner. Surface rent. To landowner, on mutual compensation ...

Get Price

Windfall taxes - definition of windfall taxes by The Free ...

Define windfall taxes. windfall taxes synonyms, windfall taxes pronunciation, windfall taxes translation, English dictionary definition of windfall taxes. n a tax levied on an organization considered to have made excessive profits, esp a privatized utility company that has exploited a monopoly ... ruled out windfall taxes for mining companies ...

Get Price