Comments
Dear Perrine, Thank you for sharing on how DRC and other mineral rich underdeveloped countries could earn their mineral taxes earlier in the form of capital gain taxes on the profits realized in the indirect transfers of mineral rights, rather than later in the form of corporate taxes on the profits realized after mining costs and other mineral taxes recovery. Many of us would be interested to know how to collect them because receiving the mineral taxes earlier enables to maximize the exploitation of their time potentials accrued from their earliest investing for profits. But, for my country Tаnzаnіа which started charging capital gain taxes on the cаpіtаl gаіns realized in transfers of mineral rights only recently, priority аctіon is to ensure the recoveries of mining capitals by the large scale gold miners operating in the country start generating mining revenues which carry corporate taxes for the government don’t cover the cаpіtаl gаіns which were not charged capital gain taxes by the government. Otherwise, the miners operating on mineral rights which carry capital gains which were not charged capital gаіn taxes should pay the uncharged capital gаіn taxes, plus interests. Follow-up of the uncollected capital gain taxes should apply to all large scale gold miners operating in the country because these are operating on mineral rights which changed hands several times uncharged capital gain taxes on the capital gains they were realizing, as well as the Uranium One miner operating on uranium rights in the country which changed hands once uncharged the same.
Court case on the capital gain tax uncollected from the Mantra Resources Ltd- Uranium One transfer of mineral rights in Tanzania still going on as reported here: http://www.dailynews.co.tz/index.php/home-news/53912-court-grills-defence-over-russian-mining-firm
Thanks for sharing, Perrine. This is very useful.