By James Otto, Craig B. Andrews, Fred Cawood, Michael Doggett, Pietro Guj, Frank Stermole, John Stermole, John Tilton

This publication encompasses a wealth of data and research when it comes to mineral royalties. fundamental info comprises royalty laws from over 40 international locations. research is complete and addresses problems with significance to diversified stakeholders together with executive policymakers, tax directors, society, neighborhood groups and mining businesses. huge footnotes and citations offer a beneficial source for researchers.

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Extra resources for Mining Royalties: A Global Study of Their Impact on Investors, Government, And Civil Society (Directions in Development)

Example text

To compensate companies for assuming more Taxation of the Mineral Sector 11 risk, the government must be willing to allow firms to capture a large share of the expected profits, which means lower expected government revenues. The mix of taxes also affects the flow of government revenues over time. An import duty, for example, on trucks, drills, ball mills, and other imported capital goods produces tax revenues during the development stage of a project. Revenues come from a unit- or value-based royalty at the time of production, from a corporate profits tax or profit-based royalty once the project is profitable, and from an additional profits tax only after the designated profit hurdle has been met.

The height of each column reflects the costs of producing a given quantity of metal, such as copper. For example, the mine shown in column A has production costs of 0Ca, and the mine in column B has production costs of 0Cb. The amount of output that each mine can produce is given by the width of its column. So the lowest-cost mine (column A) can produce 0Qa pounds of copper, and the second-lowest-cost mine (column B) can produce QaQb pounds. P1 is the market price of copper when demand can be completely satisfied by mine A.

Apply ring-fencing principles (accounts from the mine may not be mixed with accounts for activities outside the mine). Source: Otto 2004. 18 Mining Royalties receives at least some compensation for the transferred property right. Some nations forgo such a tax, perhaps recognizing that compensation for the ownership loss may take forms other than fiscal revenues, such as employment, infrastructure, and so forth. In times of protracted low commodity prices, the public may become antagonistic to mines that exploit nonrenewable public resources and do not pay income-based taxes.

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