Zambia abolishes 25 pct windfall mining tax | Reuters
Zambia, Africa's top copper producer, said on Friday it would abolish a controversial 25 percent windfall tax to cushion its key copper mining industry from weak prices stemming from the global ...
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Canadian Taxation of Mining
Residents of Canada are subject to Ca-nadian income tax on their worldwide income. Income from each separate source (for example, a business, investment, or employment) is calculated, …
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Zambia's Mineral Tax Regime
New taxes introduced in 2008 were put to effect in 2011 meaning corporate tax increased from 25% to 30%, mineral royalty tax increased from 0.6% to 3% of which during the same period the government introduced a variable profit tax and windfall tax.
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Windfall tax on large Canadian companies …
A new report by the non-profit organization Canadians for Tax Fairness says Canada should institute a windfall tax on all large corporations to help recover some of the public funds awarded to ...
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Windfall Taxes Sweep Through The Global Energy Sector
The windfall tax on crude oil was increased to 2,100 rupees ($25.38) per tonne from 1,700 rupees ($20.55). The federal government also raised the export tax on diesel to 6.50 rupees per liter from 5 rupees, while raising the windfall tax on ATF to 4.5 rupees per liter from 1.5 rupees, the document showed.
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Zambia's Banda defends scrapping mine windfall tax | Reuters
Zambia, Africa's largest copper producer, introduced the windfall tax in April last year, along with a 15 percent profit variable tax, and raised mineral royalty to 3.0 percent from 0.6 percent ...
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New Tax Disincentive Could Cripple Flow-Through …
The newly revised Alternative Minimum Tax (AMT) introduced in the 2023 Federal Budget that will go into effect on Jan. 1, 2024 will significantly reduce the effectiveness of the newly enacted Critical Mineral Exploration Tax …
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A windfall tax on Big Oil could haul in $4.2 billion for …
A windfall tax on oil and gas companies was an especially popular idea last year, with UN Secretary General António Guterres calling on countries to make polluters pay their fair share at the UN General Assembly. The United Kingdom introduced a windfall tax of 25 per cent and in Europe, there are many windfall taxes being imposed, including the Czech government …
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Technology Metals Report (12.13.2024): Canada …
One of the most impactful announcements came from Canada, where the government is contemplating an export tax on essential commodities like oil, as well as critical …
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DEVELOPING THE WORLD CLASS HIGH-GRADE …
The mineral resource estimate on Windfall (with an effective date of June 7, 2022) (the "Windfall Resource Estimate") and the mineral reserve estimate on Windfall (with an effective date of November 25, 2022) (the "Windfall Reserve Estimate") are described in the technical report (with an effective date of November 25, 2022) and entitled ...
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JV Article: Tax tsunami may destroy Canadian resource …
Investments of more than C$300 million in mineral exploration will be lost in 2024 and in all future years if Ottawa goes through with its new alternative minimum tax (AMT) rules in Budget 2024 ...
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Mining industry backs bill imposing margin-based royalty
THE MINING INDUSTRY would prefer the imposition of a margin-based royalty and windfall pro fi ts tax, as it would still generate revenues for the government but less burdensome for miners.. Chamber of Mines of the Philippines Vice Chairman Gerard H. Brimo said in a Viber message theses taxes would provide the government "with a progressively larger share in …
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Windfalls In Canada
What are Tax Windfalls? Windfalls are various categories of unexpected monetary gain such as lottery winnings, inheritances, and gifts. Canada's income tax system is based on the "source doctrine", which means that to be taxable, income has to come from one or more of the following categories.
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Mining and Mineral Rights Tax
Mineral Rights Tax – imposed on the recipient of mineral production royalties. A 20% tax is imposed on royalty receipts less certain deductions including legal expenses incurred in the collection of the royalties and payment of rents or royalties to other persons. Return of Income Derived from Mineral Rights (92 KB)
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Canada | OPERATIONS | Gold Fields
We own the Windfall project in Canada's Quebec province. Windfall is among the largest gold deposits in Canada, and a top 10 gold deposit globally by head grade. Based on 2023 data . Mineral Resources and Reserves supplement 2023 PDF – 9MB Mineral Resources and Reserves supplement 2023 PDF – 9MB:
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New Fiscal Regime For The Mining Industry
The whereas clauses of EO No. 130 noted that Republic Act No. 10963 (the TRAIN Act) has doubled the rate of excise tax on minerals, mineral products, and quarry resources from 2% to 4%, the country has tapped less than 5% of its mineral resources, and that the mining industry can support various government projects.
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A Newsletter of CUTS Africa Year 10, No. 2/2011 The …
Re-introduction of a windfall tax is not likely to ensure Zambia benefits from its mineral wealth. A re-engineering of the whole mining tax system and its administration is necessary in order for the country to yield optimum tax revenues from its natural resource base. However, cognisant of the fact that having an overhaul of the tax system in ...
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Philippines' lower house passes bill overhauling mining tax …
The bill also seeks to subject mining income to a windfall profits tax. ... The bill does not stipulate any tax on metallic mineral exports. ... Markets category Canada October retail sales up 0.6 ...
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Mining taxation
Are you a mining company or investor, in Canada or in another country, considering Canada's mining opportunities? Learn about how mining operations are taxed in …
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Gold Fields seeks Canada Windfall with Osisko deal
Gold Fields will pay Osisko an initial C$300 million to enter into a 50/50 joint venture agreement for the joint ownership and development of Windfall, with a second $300 million payment to follow ...
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Technology Metals Report (12.13.2024): Canada Contemplates Export Tax
Canada considers export tax on major commodities oil, uranium and potash if Trump imposes 25% tariff (December 12, 2024, Source) — The Canadian government is considering an export tax on key commodities, including oil, uranium, and potash, if U.S. president-elect Donald Trump imposes a 25-per-cent tariff on Canadian imports.While Ottawa …
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Philippines' lower house passes bill overhauling mining tax …
Under the bill, part of tax reform measures under President Ferdinand Marcos Jr.'s administration, large-scale metallic mining operations within mineral reservations shall be subject to a ...
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Canada to impose new tariffs on China
The first is the proposed expansion of eligibility for the Clean Technology Manufacturing investment tax credit (30%) to include the extraction of critical minerals from …
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Oil Windfall Tax: Should Canadian Energy Investors Worry?
Oil and gas windfall tax The United Kingdom is hitting oil and gas companies with a 25% windfall tax. The idea is to redistribute the money to families that are being hit the hardest by rising ...
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Letter from Canada: Risk of windfall profit tax grows
The Canadian government has yet to indicate any plans for a windfall tax, but in early May federal environment ministe.
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Supreme Court allows retrospective levy of tax on minerals
The Supreme Court on Wednesday allowed states to impose taxes on minerals and land holding minerals, effective from April 1, 2005, a windfall for mineral-rich states in the country but a blow for ...
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Who needs a windfall tax? Oil and gas companies
gas-0722. Unanticipated revenue from energy royalties and corporate taxes are pouring into government treasuries, offsetting the need for a Canadian version of a "windfall tax" on oil and gas companies that is high on the political agenda in Europe and elsewhere, a Royal Bank of Canada analyst argues in a new report.
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Canada's grocers could soon face windfall tax for price …
Ottawa should put a windfall tax on grocers if the Competition Bureau finds they're making excess profits on food, committee says. Read on. ... Canada's grocers could soon face windfall tax if Competition Bureau finds price gouging. Windfall tax one of 13 recommendations made by agricultural committee.
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NGOs call for higher taxes on mining firms so Philippines …
The measure also seeks to subject mining income to a windfall profits tax of at most 10 per cent. These rates, along with payments and fees over the life of the mine, will be equivalent to about 20 to 25 per cent of the effective tax rate, or the income that an individual or a corporation pays in taxes, she said.
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International Comparison
• Most provinces in Canada, as well as the state of Nevada in the United States, ... minerals tax Withholding taxes nil variable according to the following formula: 30% + 15% x (1 - 8%/Y) whew Y is the ratio of taxable income to gross income nil (windfall Exempt tax introduced in 2008 was repealed in 2009) 28% normal CIT Gold mining companies
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