Archive for the ‘TAX FEES CHARGES LEVIES’ Category

SOUTH AFRICAN GOVERNMENT CHASING MINING MAGNATE FOR $250M IN BACK TAXES

Wednesday, August 15th, 2012

Christoffel Wise mining magnate of South Africa is alleged to owe the South African government $250,000,000 in back taxes

Mining entrepreneur and South Africa’s third wealthiest man , billionaire Christoffel Wiese, is said to owe the country’s revenue agency (Sars) an estimated $250 million (R$2 billion) in unpaid taxes.
Amanda Jo Jewellery

Wiese, who sits on numerous corporate boards and also has investments in gold and diamond mining companies, told the Sunday Times on Sunday that he is not hiding from Sars.

“Do you think that for 50 years Sars has not been aware of my existence? I’m not hiding anywhere, so if you think I owe you money, send me the bill,” the newspaper quoted him saying.

The 71-year-old also holds stakes in real estate firms and is involved in a private equity firm with investments in jeweller Fabergé.

Wiese owns vast properties, among them a private game reserve in the Kalahari and the prized Lourensford wine farm, a 300-year-old estate by the Helderberg mountains in the Western Cape.

The Sars assessment for Wiese, reports Fin24.com, is the largest in South African history and it would make him the largest individual tax offender in the country.

The investigation into Wiese was reportedly triggered when British custom officials stopped Wiese at the London airport en route to Luxembourg in 2009, seizing over 1 million dollars (about £700,000) he was carrying in cash.

He said at the moment the money came from diamond deals and had been in a safety deposit box in London for years.

Wiese got the full sum back recently, following a legal process and, according to his lawyer, represents less than two weeks’ income for his client.

Image: Wiese in an interview with German television


Manifest Absolutely Anything v2.0

Sourced & published by Henry Sapiecha

TANZANIAN GOVERNMENT SAY TO MINERS PAY MORE TAXES OR CLOSE UP SHOP

Monday, July 30th, 2012

Tanzania insists that mining companies pay a

30% corporate tax because of rise in prices

* Plans 200-megawatt coal-fired power project

* Eyes higher revenues from gold exports

* Says has over 130 mln pounds of uranium oxide

By Fumbuka Ng’wanakilala
ngcgolf.com - Scientifically Designed Golf Equipment.

DODOMA, July 27 (Reuters) – Tanzania, fourth largest gold producer in Africa, has told mining companies operating for more than five years to start paying a corporate tax of 30 percent, citing rising prices of precious metals in the world market.

Tanzania’s gold export earnings rose 31 percent last year to $1.879 billion from $1.436 billion a year before on higher world prices for the commodity, Sospeter Muhongo, energy and minerals minister, told parliament on Friday.

The minister said the government wants to earn higher revenues from mining companies due to the rising gold price and added the government had ordered audits of all large-scale gold mines in the country to ensure they started paying corporate taxes after recovering their costs of production.

“I am instructing all mining companies that have been in operation for more than five years to start paying corporate tax without any excuses,” he said.
Convert your Black & White Photos to life-like Color

“If they claim they are still making losses and can’t contribute to the national economy through taxes, they should shut down their mines and leave because minerals do not rot.”

Major gold mining companies in Tanzania include African Barrick Gold Plc, which has four gold-producing mines, AngloGold Ashanti Ltd and Resolute Mining Ltd.

He did not say which of these mines were affected, but said Geita Gold Mine owned by AngloGold Ashanti and the Golden Pride mine owned by Resolute had already paid a total of 228.5 billion shillings in corporate taxes.

He said Tanzania was also evaluating around a dozen bids from investors for a stake in the state-run Buhemba gold mine. The government regained ownership of the mine this year after reversing its 2005 privatisation to a local company amid allegations of graft in the previous sale of the mine.
www.smartmoneyclip.co.in

It is much smaller than mines run by the big companies.

The country has also invited bids for a joint venture project to develop a state-run coal mine with 35.5 million tonnes of reserves, the country’s energy and minerals minister said Friday.

The government said the project would also involve construction of a 200-megawatt coal-fired power plant at a cost of $400 million.

“By June 2012, the State Mining Corp received bids from 16 foreign and local companies to enter into joint venture to develop this project,” Muhongo said.

He said Tanzania has 136.5 million pounds of uranium oxide, with Australia-based miner Mantra Resources given a go-ahead to build a $450 uranium mine at a world heritage park after the project received approval from UNESCO, the U.N. cultural agency.
Get your Coffee Machines & Espresso Machines

Sourced & published by Henry Sapiecha

AUSTRALIAN COALMINE INSTRUCTED TO PAY EMISSION TAX LEVY

Monday, January 16th, 2012

COALMINE IN AUSTRALIA ORDERED TO PAY EMISSION TAXES

IN A landmark decision, the Land and Environment Court has held that one of New South Wales’ coalmines in Australia should have to pay to offset some of its greenhouse gas emissions as a condition of operation.

The provisional decision was a win for the Hunter Environment Lobby, represented by the Environmental Defender’s Office, which had appealed to the court over the Minister for Planning’s decision to both consolidate historical consent authorities of the Ulan mine, near Mudgee, and double its operational life and capacity to 2031.

The Xstrata and Mitsubishi-owned Ulan Coal Mines, backed by the minister, and the Department of Planning, had argued that offsetting the mine’s scope one emissions was discriminatory, given that there were at least 50 coalmines operating in NSW.

The government told the court the carbon tax regime was a preferable policy.

The provisional judgment was delivered on November 30, with parties due to thrash out its details and timetable on February 13, before final orders are made.

Justice Nicola Pain found that the power to impose conditions on major infrastructure projects – those captured by the now repealed Part 3A procedure – was wide.

”That this is the first such condition imposed on a coalmine in NSW is not necessarily discriminatory,” she said.

”It is simply the first occasion that has occurred.

”As other operating coalmines seek approval to modify or extend their operations, or new coalmines are opened, it would be open to the consent authority, which may be the minister, to impose a similar condition.”

Law firm Norton Rose, in a briefing update, said the implications of the ”landmark” decision spread beyond the coal industry

Sourced & published by Henry Sapiecha

MINING GIANTS CRUSHED RUDDS PROPOSED NEW MINE TAX

Tuesday, February 1st, 2011

Mining firms spent more

than $20 million in Australia

to bury Rudd’s tax

February 1, 2011 – 2:21PM

Mining companies spent more than $20 million to sink a tax on profits, and Kevin Rudd’s Labor leadership in the process.

New figures released by the Australian Electoral Commission show the Minerals Council of Australia spent $17 million, BHP Billiton more than $4 million and Rio Tinto more than $537,000 in their battle against the Rudd government’s resource super profits tax.

The government wanted to impose a 40 per cent tax on the so-called “super profits” of the country’s mining companies. But Prime Minister Julia Gillard, who ousted Mr Rudd as the tax debate entered a stalemate, negotiated with the biggest companies for a 30 per cent mineral resources rent tax applying to coal and iron ore only.

However some miners still refuse to accept the tax.

Infrastructure Minister Anthony Albanese said the miners had waged a misleading campaign.

“We know in the lead-up to the last election there was a considerable amount of advertising done against the government, much of it very misleading,” he said.

The Australian Electoral Commission figures also showed the Liberal Party continued to benefit from large donations from tobacco companies and the hotels and gaming industry spent big on both major parties.

But trade unions remained Labor’s key financial backers. The Australian Workers Union and the Shop, Distributive and Allied Employees’ Association each gave $200,000 to the ALP’s federal branch, which received $7.75 million in total over the 2009/10 financial year.

Billionaire mining magnate Clive Palmer’s Mineralogy was the largest individual donor to the federal Liberals, contributing $500,000 out of a total $6.3 million.

Across all states the Liberals received $41.22 million, compared with Labor’s $36.22 million.

Tobacco companies Philip Morris and British American Tobacco gave donations totalling just over $300,000 to the Liberal and National parties, while Labor and the Greens have banned such donations.

NAB and ANZ bank donated $100,000 each to Labor and the Liberals.

The nation’s 60 political parties received $89.5 million over the financial year – down from $98 million the previous year.

AAP

Sourced & published by Henry Sapiecha


Categories
Search