Mining and tax in South Africa: Costs and benefits

... South African mining companies ... expenditures against tax while gold mining companies pay a corporation tax rate according to a formula that keeps ...

Mining Tax Recommendations - Deloitte South …

2. Gold mining formula, Capex and ring fences . Gold mining companies are taxed in terms of a formula which by and large, takes into account the profitability of the company and provides relief in cases where margins are below 5% (often referred to as the tax tunnel). The gold mining formula was introduced to encourage gold mining investment …

THE ECONOMICS OF GOLD MINING TAXATION

the economics of gold mining taxation by kismore mangondo ... table 6.1 history of gold mining tax formula in south africa 1936-2005 ...

Note 9 - goldfields

1: South African mining tax on mining income is determined according to a formula which takes into account the profit and revenue from mining operations.

Mining tax - Homepage | PwC South Africa

Africa Tax Survey. Africa Tax Survey - While we see interest in doing business in Africa growing and foreign investment , we see the need …

SOUTH AFRICA - MINING AND PETROLEUM ROYALTIES …

SOUTH AFRICA - MINING AND PETROLEUM ROYALTIES - THE IMPOSITION AND CALCULATION By BETSIE STRYDOM (Director in the Tax Practice of the Corporate ...

South Africa tax team recommends review of …

05.06.2015· South Africa should review a preferential tax enjoyed by gold producers, a commission set up to look into taxes in Africa's most advanced ...

Deductions of mining capital expenditure under …

tax law. Section 36(7E) of the Act limits the deduction of the aggregate of capital expenditure determined under section 36(7C) of the Act in a particular year of assessment in relation to any mine or mines to what is referred to as the “gross mining taxable income” derived by the taxpayer from mining.

South Africa Corporate - Taxes on corporate …

Detailed description of taxes on corporate income in South Africa ... normal tax, based on a standard formula, are prescribed for companies mining for gold.

Guide for Tax Rates/Duties/Levies - SARS

South African time). • visit ... to non-resident sellers of immovable property in South Africa ... to one of the following “gold mining tax formulae ...

South Africa Corporate - Taxes on corporate …

Detailed description of taxes on corporate income in South Africa ... normal tax, based on a standard formula, are prescribed for companies mining for gold.

South Africa tax team recommends review of …

05.06.2015· South Africa’s mining industry’s reached its apex in the 1970s when in good years the African nation’s miners produced more than a thousand tonnes of gold per year, accounting for more than two-thirds of global production.

Good as Gold? South Africa’s Problem with …

Whether South Africa's illegal gold mining problem is measured in revenue, security risks, or human lives, in the end, everyone loses.

The Role of Mining in the South African Economy

The Role of Mining in the South African ... of tax revenues mining has often been viewed as ... industries of the South African economy. Gold mining ...

pmg-assets.s3-website-eu-west-1.amazonaws

Mining taxation — the South African ... Economic Tax Analysis, August 2013 South Africa ... changed significantly over time owing to the decline in gold ...

Deductions of mining capital expenditure …

Deductions of mining capital expenditure under subsections 36(7F) and 36(7E) of the Income Tax Act Wednesday, 19 December 2012 Posted by ...

Mining and minerals in South Africa

South Africa has abundant mineral resources, accounting for a significant proportion of world mining and reserves, including gold, platinum and manganese.

Mining industry of South Africa - Wikipedia

South Africa accounted for 15% of the world's gold production in 2002 and 12% in 2005, though the nation had produced as much as 30% of world output as recently as 1993. Despite declining production, South Africa's gold …

State of Mining in Africa In the spotlight - Deloitte US

State of Mining . in Africa . ... Governance, mining, legislation and tax law ... South Africa: Copper 0.5-7: 0.5-7 0.5-7:

The Glitter of Gold - South African History Online

... The glitter of gold by Emilia Potenza. ... gold mining in South Africa would not have been ... earn money to pay the hut tax and the poll tax by ...

Mining and minerals in South Africa

The Nedbank South African Junior Mining and Exploration Index, established in September 2006, provides a measure of performance of all the South African listed junior mining and exploration stocks, excluding oil and gas.

State of Mining in Africa In the spotlight - Deloitte US

State of Mining . in Africa . ... Governance, mining, legislation and tax law ... South Africa: Copper 0.5-7: 0.5-7 0.5-7:

Deductions of mining capital expenditure …

Deductions of mining capital expenditure under subsections 36(7F) and 36(7E) of the Income Tax Act Wednesday, 19 December 2012 Posted by ...

Sector Study of the Effective Tax Burden - World Bank

Table 10 Average tax rates for STC-exempt gold mining companies ... Few sector wide incentives. ... South Africa: Sector Study of the Effective Tax Burden ...

South African gold mining taxation : An …

However, the application of such fundamental principles in the tax formula of the South African gold mining industry negates the neutrality principle.

Gold Mining in South Africa - Projects IQ

Gold mining in South Africa typically involves methods such as panning, sluicing, dredging, hard rock mining, and by-product mining.

IMF Country Report No. 15/244 SOUTH AFRICA

IMF Country Report No. 15/244 . SOUTH AFRICA . ... B. Mining Tax Provisions of the Income ... Depletion particularly affects the traditional gold mining ...

Tax calculator - Moneyweb

Tax calculator . 20 February 2018 16:26 ... South Africa. Africa. International. ... Mining companies & investment. Opinion.

South African Taxation - Home – BGR De Jager

South African Taxation ... other than certain gold mining ... whilst non-residents are subject to tax on their South African

SA’s mining industry continues to face tough …

Coal maintained its strong position as the highest earning commodity in South Africa. Although the share of revenue decreased marginally to 29% from 2015 to 2016, total coal mining revenue increased by R1.3 billion from a high base of R104.4 billion in 2015. Platinum group metals (PGMs) share of mining revenue grew from 25% to 27%.