Global mining tax comparison: Income taxes, mining taxes and mining royalties (Updated Dec. 2010)

There is considerable interest today regarding income tax rates, mining tax rates and mining royalty rates levied on mining companies in various countries where significant mining occurs. This interest has been heightened as the global economy slowly emerges from the recession and mining companies lead the way by providing the raw materials and energy for manufacturing and other activities. This interest is even greater in countries where mining is a significant portion of GDP and, therefore, a potentially significant source of revenue for the government.

Our hope is that this Summary can help in an analysis of taxes in an included country by focusing on the income taxes, mining taxes and royalties applicable in that country. It is, however, only a starting point. Any analysis of fairness with regard to whether a mining company is paying its fair share should include not only income taxes, mining taxes or royalties but should arguably also include all taxes and payments to government by a mining company. This Summary of income and mining taxes and mining royalties does not include property taxes, VAT and other taxes broadly applicable to all businesses.