Stories that are tagged 'mining'

	SA Will Not Impose Australian-Style Mining Tax 5/14/2012 At a press briefing, Mineral Resources Minister Susan Shabangu has confirmed that South Africa will not follow Australia in implementing a ‘mining super tax’.
	China, Colombia Initiate Free Trade Talks 5/11/2012 Colombian President Juan Manuel Santos has welcomed the conclusion of a total of nine cooperation agreements with China during a recent official visit to Beijing, where it was agreed that the two countries would commence discussions on the feasibility of a bilateral free trade agreement.
	Australian Budget Scraps Planned Business Tax Cuts 5/10/2012 A planned cut to business tax rates will not go ahead in Australia, as the government seeks to redirect projected mining tax revenue to help families and small businesses in the face of ongoing disputes with opposition parties.
	Vale Suffers Setback In Brazilian Tax Fight 5/9/2012 The world's second largest mining company Vale SA, has announced that Brazil's highest judicial authority, the Superior Court of Justice, has stripped the company of an injunction it previously received which 'suspended the effects of the unfavourable rulings related to the taxation of its foreign subsidiaries' earnings'.
	Offshore Merger And Acquisition Activity Rises 5/9/2012 A new report from Appleby shows that transaction values for mergers and acquisitions (M&A) in major offshore financial centers rose by 25% in the first quarter of 2012.
	Australian Businesses To Benefit From Loss Carry Back Scheme 5/7/2012 Australia’s government is to introduce a new business tax relief with a ‘loss carry-back' initiative, designed to give businesses greater access to their legitimate tax deductions when making losses.
	Indonesia Imposes Export Tax, Restrictions On Mineral Ore Exports 5/7/2012 The Indonesian government is to place a tax on the export of certain raw minerals, as well as banning their export by mining companies that have not agreed plans for local processing in the country.
	Canadian Budget Tax Legislation Tabled 4/24/2012 Canada's Finance Minister Jim Flaherty has tabled legislation which will implement certain tax provisions of his 2012 Budget, including reforms to tax shelters and minor changes to the sales tax system.
	After WTO Decision, China Establishes Rare Earth Regulatory Body 4/11/2012 Following last month’s request by several countries for consultations at the World Trade Organization on what they consider to be China’s unfair export restraints on rare earths, the latter has now set up a regulatory body to oversee their exploitation.
	No New Taxes In Budget For Canadians 3/30/2012 The Canadian government has left tax rates on hold for another year in the 2012 Budget, announced by Finance Minister Jim Flaherty on March 29.
	Mining Firms To Face Higher Brazilian Taxes 3/28/2012 Three Brazilian provincial governments have confirmed that they will introduce new taxes on mineral products, including iron ore and bauxite, from April 1, 2012.
	Peru To Boost Tax Take 3/22/2012 Peru's Finance Minister Luis Miguel Castilla has announced that Peruvian authorities are to target non-compliant taxpayers, aiming to boost the tax take by 2.5% of gross domestic product within a four-year period, whilst maintaining tax rates.
	Australian Parliament Passes Mining Tax 3/23/2012 Australia’s controversial Minerals Resource Rent Tax has made it through parliament after a long battle with the opposition.
	Japan, Mongolia To Negotiate Trade Treaty 3/14/2012 A statement, following a meeting in Tokyo on March 12 between the Mongolian Prime Minister Sukhbaatar Batbold and his Japanese counterpart Yoshihiko Noda (pictured), confirmed that the two countries will enter into negotiations for an Economic Partnership Agreement as soon as possible.
	China Under Attack Over Rare Earth Export Restraints 3/15/2012 The United States, European Union and Japan have jointly requested consultations with China at the World Trade Organization concerning what they call the latter’s unfair export restraints on rare earths, as well as tungsten and molybdenum.
	Philippines Delays Hike In Mining Taxes 3/13/2012 Following concerted opposition from within the sector, the proposed executive order to increase the Philippine government’s revenues from mining contracts, which was to have been issued by President Benigno Aquino last month, has been delayed.
	Vale Posts Brazilian Back Tax Case Collateral 3/12/2012 Vale, the world's second largest mining company, has clarified that despite being required to pay USD915m in judicial deposits, it remains confident of a favourable ruling in the tax case with Brazilian authorities over back taxes, worth BRL25bn (USD13.9bn) as it continues to pursue all legal avenues.
	Philippines Targets Higher Mining Tax Revenue 2/21/2012 The Finance Secretary Cesar Purisima has disclosed that the Department of Finance is looking at how tax revenues can be increased, within the government’s review of its mining sector policies in the Philippines.
	Vale Confident Of Brazilian Tax Case Victory 2/21/2012 Vale SA, the world's second largest mining company, has said the company is confident of victory in the ongoing back taxes case with the Brazilian tax authority.
	China To Pursue Tax Reforms 2/20/2012 According to a statement by China’s State Council, after a meeting chaired by Premier Wen Jiabao, the government promised to push forward its structural reform programmes, including tax measures, to improve the country’s economic development and improve people’s living standards.
	Brazilian Poultry Exporters Challenge South African Anti-Dumping 2/17/2012 The Brazilian Union of Agriculture has begun lobbying for action to be taken at World Trade Organisation level against anti-dumping measures in place in South Africa to restrict Brazilian chicken exports.
	Canada, China Conclude FIPA Negotiations 2/13/2012 Canadian Prime Minister Stephen Harper has announced the conclusion of negotiations toward a Foreign Investment Promotion and Protection Agreement between Canada and China.
	Jersey's Investment Strategy Paying Dividends 2/9/2012 The contribution of Jersey Enterprise, the government's inward investment agency has been highlighted in a recent report coinciding with the agency's name change to 'Locate Jersey' and formulation of a plan for future policy.
	Peru's Tax Revenues Soar 2/9/2012 Peruvian tax revenues increased by 13.4% in real terms as a result of the country's strong economy and efforts to tackle tax evasion, with full-year revenues amounting to PEN75.5bn (USD28.1bn), Peru's tax authority, SUNAT has reported.
	South Africa Promises To Consult On Mining Taxes 2/9/2012 Despite rumblings within South Africa’s ruling party, the African National Congress (ANC), Trevor Manuel, the National Planning Minister, confirmed at the African Mining Conference that no sudden new taxes would be levied on the country’s mining sector.
	Australia Threatens Legal Action On Mining Contracts 2/2/2012 Australian Prime Minister Julia Gillard has warned that Australia will bring proceedings at World Trade Organisation level if it is confirmed by industry that Australian suppliers are unfairly being shut out of lucrative supply deals as has been alleged.
	Vale Scores Victory In Brazilian Tax Appeal 2/1/2012 Vale, the world's second largest mining company has won an injunction in a long-running court battle against the Brazilian tax authority relating to claims for billions of dollars in back taxes said to be due on its foreign-sourced income.
	India Hikes Iron Ore Export Tax 1/5/2012 The Indian government has announced another hike in the export duty on iron ore as it attempts to support the domestic steel industry.
	Centamin Shifts Tax Residency To Jersey 1/4/2012 On December 30, 2011, Centamin Egypt Limited successfully migrated its corporate headquarters to Jersey from Australia, through the establishment of a Jersey holding company with advice from Channel Islands law firm Ogier.
	Poland To Soften New Mining Levy 1/4/2012 The Polish Treasury and Finance Ministry has announced that the rate of a proposed new Polish levy, targeted mainly at copper and silver extraction, has been significantly reduced. This follows over a month of industry criticism and share price volatility.
	US Busts Extensive Panamanian Money-Laundering Racket 1/3/2012 The US Department of the Treasury's Office of Foreign Assets Control has announced a major crackdown on an extensive money laundering network based primarily in Panama, which includes several money exchange businesses based in the nation.
	Austria Mulls Wealth-Related Taxes In EUR10bn Package 12/29/2011 Following intense discussions, Austrian Chancellor Werner Faymann and Vice Chancellor Michael Spindelegger recently united on plans for a five-year budgetary consolidation package, amounting to a total volume of around EUR10bn (USD13bn), to be agreed by the end of February following careful examination of both expenditure-based and revenue-based measures.
	China, Japan, South Korea Conclude Joint FTA Study 12/26/2011 At a recent meeting finalising a joint study on the proposed China-Japan-South Korea free trade agreement, held in Pyeongchang, South Korea, a start was recommended to its negotiation as soon as possible.
	Jersey Structure Employed In Polymetal's LSE Listing 12/23/2011 Channel Islands law firm Carey Olsen has advised Polymetal International, the largest silver and fourth-largest gold extraction company in Russia, and one of the top five primary silver extraction companies worldwide, on the Jersey aspects of its listing on the main market of the London Stock Exchange.
	Canadian Budget Measures Enacted 12/20/2011 Canadian Finance Minister Jim Flaherty has announced that several tax measures announced as part of the 2011 Budget in June have received Royal Assent.
	Gillard Uses Political Conference To Lay Out Future Plans 12/6/2011 Australia’s Prime Minister Julia Gillard has outlined a plan to cuts taxes as part of efforts to boost economic growth and employment, at the embattled Labor Party's recent national conference.
	Brazilian Court Dismisses Vale's Tax Appeal 12/5/2011 The world's second largest mining company, Vale has been unsuccessful in appealing back taxes said to be due on its foreign-sourced income.
	Hong Kong Plugs Its Services For Emerging Economies 11/30/2011 Financial Secretary, John C Tsang, speaking at the recently-held 2nd Annual Emerging Markets Conference, said that Hong Kong, so as to achieve a more diversified business portfolio, will continue to strengthen trade and investment co-operation with emerging economies.
	Zambia's 2012 Budget Raises Mineral Royalty Rates 11/16/2011 In his 2012 Budget Address to Zambia’s parliament, Minister of Finance and National Planning, Alexander Chikwanda, indicated that a major part of the government’s objective next year would be to mobilize tax revenues to support the country’s development agenda.
	Australia Passes Clean Energy Legislation 11/14/2011 On November 8, the multiple Bills comprising the Clean Energy legislative package were passed into law by the Australian Senate, a package that will force about 500 of the country’s biggest polluters to pay a levy of AUD23 (USD23) for each tonne of carbon dioxide they emit.
	Afghanistan Looks To Introduce VAT 10/12/2011 An International Monetary Fund mission and the Afghan authorities have reached a staff-level agreement on a three-year program under the Extended Credit Facility of about USD129m to support the authorities’ economic program. The Afghan authorities plan to continue revenue administration reforms and introduce a value-added tax in 2014.
	China Extends Resource Tax Nationwide 10/12/2011 China’s State Council has announced that the resource tax on domestic sales of crude oil and natural gas will be extended nationwide, with effect from November 1, 2011.
	IMF Backs Australian Tax Policy 10/10/2011 The International Monetary Fund has endorsed the Australian government's tax policies in its latest review of the country's economy.
	Economy-Boosting Bill Introduced In Canada 10/7/2011 As part of the ongoing Budget implementation process, the Canadian Finance Minister has introduced legislation designed to generate job creation and stimulate economic growth, with measures including a series of key new tax credits.
	Peru Enacts Mining Tax Overhaul 9/30/2011 Peruvian President Ollanta Humala welcomed the supportive stance of the nation's mining industry upon enacting measures to reform the country's mining tax regime at a ceremony on September 29, 2011.
	Peruvian Mining Tax Overhaul Approved 9/27/2011 Peru has adopted a law revising the tax treatment of the country's mining industry, altering the basis of taxation and increasing the sector's contribution to government coffers.
	Philippines Miners Oppose Proposed 5% Royalty 9/21/2011 Following the recent official statement that tax measures would be introduced to ensure that part of the increased profits being obtained by mining companies in the Philippines would be translated into additional tax revenue, the Chamber of Mines of the Philippines has called for the proposal for a 5% royalty on mining operations to be revoked.
	Tax Of Lesser Importance In New-Age FTAs: WTO 9/19/2011 The World Trade Organisation has announced the publication of its annual World Trade Report for 2011, focusing on the role that Preferential Trade Agreements play in the development of the multilateral trading system.
	Debate Over Australian Mining Industry’s Tax Bill 9/9/2011 Public perceptions of the size and significance of the mining industry to the Australian economy are radically different to the facts, a new survey by the Australia Institute has revealed.
	Chile Studies Tax Reform 9/8/2011 Chilean President Sebastian Pinera has announced that the government is reviewing the country's tax regime to find more money for social spending.
	Australian Firms Face Fuel Tax Hit 9/6/2011 At least 1,500 Northern Territory businesses face a new 6.2 cents per litre tax on fuel under the federal government’s carbon tax, according to figures released as part of the Minerals Council of Australia’s response to the federal government’s proposed Clean Energy Future Legislation.
	Indian State Requests Mineral Resources Tax 9/6/2011 The Chief Minister of the Indian State of Orissa has asked the Prime Minister to impose a mineral resource rent tax on iron ore. He has suggested that the levy is fixed at 50% of the surplus rent.
	China Appeals WTO Ruling On Raw Material Exports 9/5/2011 It has been confirmed that, on August 31, 2011, China notified the World Trade Organization of its decision to appeal the panel’s ruling, made in July, against the duties and quotas China imposes on its exports of raw materials.
	Australia Announces Details Of October Tax Forum 8/30/2011 The Australian government has announced the invitation list, program and facilitators for the country’s Tax Forum to be held in Canberra on October 4 and 5.
	China To Appeal WTO Ruling On Raw Material Exports 8/30/2011 The Ministry of Commerce has disclosed that China will appeal against a World Trade Organization panel’s ruling made last month against the duties and quotas China imposes on its exports of raw materials.
	Tax Is Cause Of Uncertainty In Australian Mining Sector 8/26/2011 A new report out this week warns that increased government intervention in the Australian mining sector is causing high levels of uncertainty among both companies and investors.
	Indian Business Opposes New Mining Taxes 8/25/2011 The government’s proposal to impose a 26% tax on profits from coal mining will make the industry the most heavily taxed in the world and globally uncompetitive, industry body the Associated Chambers of Commerce and Industry of India has said in a representation to the prime minister.
	Namibia Waters Down Increased Mining Tax Proposals 8/24/2011 The Namibian government has decided to rescind or reduce most of the increased tax proposals that it had previously threatened to impose on the country’s mining sector, with the objective of gaining more revenue from current high global commodity prices.
	Peru Agrees New Royalties With Mining Firms 8/23/2011 Peru has finalized plans to apply higher royalties to companies with mining operations in the nation.
	Australian Think Tank Flags Danger Of New Taxes 8/19/2011 Australian free market think tank, the Institute of Public Affairs, has called on the Gillard government to scrap its mining and carbon taxes in light of the looming economic downturn in Australia's biggest export market, China.
	NZ Business Assesses Impact Of Australian Carbon Tax 8/16/2011 The dangers of making hasty comparisons between the carbon schemes of Australia and New Zealand based on carbon price alone are highlighted in an independent report carried out for BusinessNZ.
	Mourant Ozannes Advises On USD13bn Reverse Takeover 8/16/2011 Mourant Ozannes has acted as sole Jersey legal adviser to KazakhGold Group Limited and OJSC Polyus Gold, the largest gold producer in Russia, in the combination of the two companies.
	Carbon Tax Targets Western Australia, Says Opposition Party 8/15/2011 The Australian opposition Liberal Party has taken the opportunity once again to criticize the country’s mining and carbon taxes by accusing the federal government of potentially damaging the prosperity of Western Australia.
	Canada-Brazil Forging Ahead With Economic Cooperation 8/15/2011 Economic relations between Canada and Brazil continue to improve, with Canadian Prime Minister Stephen Harper declaring Brazil a "tremendously important part" of his government's plans for trade development in the Latin American region.
	Brazil Mulls Mining Royalties Hike 8/11/2011 Brazil is considering plans to increase the rate of royalties paid by mining companies as part of wider reform of legislation governing the sector.
	Australian Government Pleased With IMF Endorsement 8/8/2011 The International Monetary Fund has just published its latest report on the Australian economy, suggesting that tax and structural reforms will play a key role in allowing Australians to take full advantage of the country’s current mining boom.
	Australian Carbon Tax 'Manageable' Says Gold Firm 8/4/2011 Gold mining company Barrick Gold anticipates that while Australia’s proposed carbon tax will increase the cost of production by USD12 an ounce, the tax increase will be 'manageable'.
	Indian Coal Mining Industry Faces Tax Hit 8/1/2011 The new provisions in the Indian draft Mines and Minerals Act requiring non-coal mining companies to contribute 100% of their royalty to the proposed District Mineral Foundation, and coal mining companies to contribute 26% of their profit to the Foundation, has put the mining sector under pressure, according to the Federation of Indian Chambers of Commerce and Industry.
	Threat To Australian Coal Industry From Carbon Tax 7/26/2011 Australia’s proposed carbon tax could lead to a AUD8bn (USD8.7bn) drop in the value of the coal industry according to research published this week.
	Anti-Carbon Tax Ad Campaign Launched In Australia 7/22/2011 Australia's largest business organisation, the Australian Chamber of Commerce and Industry, is taking the concerns of business and ACCI's member organizations about the proposed carbon tax to the community through support of an advertising campaign by the Australian Trade and Industry Alliance.
	Peru's President-Elect Talks Mining Tax 7/14/2011 The taxation of mining companies in Peru is 'an issue of corporate social responsibility', President-elect Ollanta Humala has said, confirming that he will hold talks with the owners of mining companies.
	Jersey Company Used For Major London Listing 7/11/2011 Mourant Ozannes has advised Vallares plc, a Jersey company, on its flotation on the Main Market of the London Stock Exchange, which raised GBP1.35bn (USD2.15bn) – the second largest such flotation this year, just seven days after making an announcement that it intended to launch an initial public offering.
	Vietnam To Raise Coal Export Tax 6/30/2011 Vietnam’s Ministry of Finance has plans to increase the rate of export tax on all types of coal, from the current level of 15% to 20%, in order to protect the dwindling level of coal reserves in the country.
	Swan Takes Stock Of Australian Tax Policy 6/28/2011 One year into Julia Gillard’s government, the Australian Treasurer, Wayne Swan, has taken stock of the country’s achievements and focused on some of the government’s challenges.
	Ecuador Improving Its Trade Relations 6/22/2011 Ecuador has participated in a series of meetings and negotiations with various jurisdictions, in an effort to strengthen its international trade relations.
	Australian Mining Company Says 30% Tax Is Unfair 6/15/2011 Fortescue Metals Group, Australia’s third largest ore miner, has dismissed the Australian Government’s draft legislation for the introduction of the Minerals Resource Rent Tax as “disappointing and economic vandalism”.
	EU-Canada CETA Agreement Hits Hurdle 6/14/2011 The European Parliament has recently passed a resolution on European Union-Canada trade relations, supporting the aims of the Comprehensive Economic and Trade Agreement, while at the same time underscoring its underlying concerns, pertaining notably to asbestos mining, seal hunting and the oil sands.
	Tanzania Mulls 'Super Profits' Minerals Tax 6/10/2011 Tanzania's Planning Commission has indicated that Africa’s third-largest gold-producing country could introduce a windfall tax on mining 'super profits'.
	BHP Billiton Wins Lengthy Tax Credits Case 6/7/2011 The High Court of Australia has upheld the ruling of the Federal Court that BHP Billiton properly applied the arm's length principle in writing off debt accumulated by its financing subsidiary from a loan provided to an ill-fated subsidiary formed to undertake an iron ore project in Boodarie, Western Australia. As a result of the ruling, the mining giant can now claim AUD554m (USD580m) in tax credits.
	France Dictates Company Bonus Scheme 5/31/2011 French Budget Minister François Baroin recently presented the country’s 2011 supplementary social security finance bill to the council of ministers, containing the government’s proposed provision on bonuses, intended to more equally distribute the value added of companies in France.
	Indian Finance Minister Warns Tax Officers Of Difficulties Ahead 6/1/2011 Indian Finance Minister Pranab Mukherjee told a tax conference this week that the country’s tax department was going to have to work particularly hard to both achieve its targets for the current year and follow the tax compliance regime.
	Namibia Looks At Windfall Tax On Mining 5/25/2011 With the objective of gaining more tax revenue from current high global commodity prices, Namibia’s Mines and Energy Minister, Isak Katali, has disclosed that the government is looking to impose a windfall tax on mining in the country.
	Australian Mining Royalty Dispute Kicks Off 5/24/2011 With Western Australia’s state budget last week came the surprise announcement that it will be increasing iron ore royalties from next year.
	Australian Minerals Council Rejects Carbon 'Tax Grab' 5/20/2011 The Minerals Council of Australia has published a lengthy report on the country’s proposed carbon tax, stating that an integrated policy approach that includes all emitters and competitor countries is absolutely necessary for a carbon pricing scheme to be effective.
	Swan Highlights Australian Budget Benefits 5/18/2011 Following on from last week’s budget the Australian Treasurer Wayne Swan has been keen to emphasize a number of positive facts relating to the country’s economy, including significant tax reforms, although small business representatives feel that the budget lacked ambition.
	Australian Budget Fails To Provide Carbon Tax Detail 5/12/2011 The 2011/12 Australian Budget, announced on May 10 by Treasurer Wayne Swan, has been condemned by some as being incomplete because of the lack of any detail on the impact of a carbon tax.
	Australian Treasurer Counts Down To Budget 5/3/2011 With the Australian Budget only a week away, the Treasurer Wayne Swan has been burning the midnight oil putting the final touches to the all important document he will be reading out to the nation on May 10.
	UK Public Enlisted To Tackle Red Tape 4/12/2011 The UK government is to use the internet to engage with the public on the country's regulatory culture, launching a 'Red Tape Challenge' website to gather opinions on the implications of what it regards as unnecessarily burdensome regulations.
	Australian Business Body Adopts Carbon Tax Resolution 4/8/2011 The Australian Chamber of Commerce and Industry has passed a resolution on the country’s proposed carbon tax, which, it argues, should aim to place Australia on an equal footing with the rest of the world and in particular with its major trading partners.
	Australia’s Leading Commerce Association’s Take On Carbon Tax 4/4/2011 Peter Anderson, Chief Executive of the Australian Chamber of Commerce and Industry, has responded to the Leader of the Green Party’s demand that revenue from carbon tax be spent on tackling social problems as “quite short-sighted and indeed quite counter-productive”.
	Australian Treasurer’s Latest On the Mining Tax 4/1/2011 The Australian Treasurer Wayne Swan has been receiving a grilling from the media over the fine detail of the country’s proposed mining tax, and the news that the Greens have put the tax in doubt by insisting that they won't support the associated company tax cut.
	Review of Australian GST Distribution 3/31/2011 The Gillard Government has commissioned a review of the distribution of revenue from the Goods and Services Tax to the states and territories.
	China Increases Rare Earth Taxes 3/28/2011 As part of a policy of protecting China’s natural resources, the Ministry of Finance and the State Administration of Taxation have announced that a tax will be imposed on the country’s production of rare earths.
	Australia Progresses Tax Reform Agenda 3/23/2011 The Australian government is in the process of implementing a substantial tax reform agenda to strengthen and broaden the country’s economy, and maximize the opportunities of the mining boom by cutting small business taxes, boosting super and building more regional infrastructure.
	Indian Trade Body Calls For Rise In Iron Export Tax 3/2/2011 Leading industry body the Associated Chambers of Commerce and Industry of India has called for curbs on iron ore exports by increasing export tax on the resource.
	Australian PM Does Deal With Opposition Over Flood Tax 2/22/2011 Australian Prime Minister Julia Gillard has welcomed announcements from the Australian Greens and from Independent Andrew Wilkie, the Member for Denison, that they would be voting for the Government’s legislation on the flood levy.
	Tax Pressure On Gillard Over Large Mining Profits 2/18/2011 The Australian Prime Minister, Julia Gillard, is currently refusing to back down on the 30% tax on mining profits despite BHP Billiton this week posting a record half-year profit of AUD10.6bn.
	Australia's Carbon Tax Policies Attacked 2/14/2011 The policies that are most effective in driving down greenhouse gas emissions actually raise revenue rather than cost the budget money, according to a report just published by the Australia Institute.
	China Plans To Extend Resource Tax Nationwide 1/28/2011 China's Finance Minister, Xie Xuren, has confirmed that the government will introduce the resource tax, which is currently levied only in certain of the poorest provinces within the western Xinjiang region, to other areas of the country in the next five years.
	Australia Proposes New Law On GST Exemptions 1/12/2011 As part of the Australian Government's ongoing efforts to simplify Australia's tax laws, the Assistant Treasurer is proposing new legislation to change how to determine which taxes, fees and charges are exempt from the Goods and Services Tax.

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