Ring Fencing In Mining

Getting a Good Deal: Ring-fencing in Ghana

Ring-fencing can broadly be defined as a limitation on consolidation of income and deductions for tax purposes across different activities, or different projects, undertaken by the same taxpayer Box 1 Ghana began to pump its first commercial oil in 2010, following the discovery of the offshore Jubilee Field …

Ring Fence - Investopedia

A ring fence is a protection-based transfer of assets from one destination to another, usually through the use of offshore accounting A ring fence is meant to protect the assets from inclusion in an investor's calculable net worth or to lower tax consequences Moves to ring fence an asset are often called ring fence trades Next Up

Corporate income taxes, mining royalties and other mining

PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 3 as “ring fencing” The Ghana government, in the 2012 Budget Statement, proposed an increase to the corporate income tax rate from 25% to 35% and an additional tax of 10% on mining companies Ghana’s proposed tax increases are likely to take

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Ring Fencing Mining Legislation In Zimbabwe

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Chamber of Mines holds seminar on ring fencing - Ghana

Ring fencing in the mining industry is uncommon in major mining jurisdictions of the world and even where it exists, the provisions are on the basis of operating mines, Mr Saban Parimah, Tax Manager Anglogold Ashanti, has said

Ring fencing financial definition of ring fencing

Ring Fencing The practice of a company creating a legal entity separate from itself in order to protect certain assets For example, ring fencing may protect assets from taxation, regulation, or allow the company to it from creditors Ring fencing often makes use of offshore accounting It is usually legal, but there are limitations,

THE ECONOMICS OF GOLD MINING TAXATION

THE ECONOMICS OF GOLD MINING TAXATION By KISMORE MANGONDO Submitted in fulfilment of the requirements for the degree of MASTER OF COMMERCE In the subject 641 Categories of ring-fencing in the South African gold mining industry 89 6411 Taxpayer ring-fencing

Ringfencing - Wikipedia

Asset protection In asset protection arrangements, ring-fencing can be employed through segregating specific assets and liabilities into separate companies of a corporate group It can also be used as a method for mitigating liquidation risk or to improve a corporate credit rating

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Mining Sector Taxation In Tanzania - Africa Portal sector, with six large gold mines being commissioned since the early 1990s, the Mining companies had strict ring fencing around their operations under the

Miners reject ring-fencing policy - Graphic Online

Mining companies have asked the government to review its new policy of ring-fencing mining operations insisting that, it is a disincentive to future investment in the sector

BASIC CONCEPTS OF ROYALTY, MINERAL RESERVATION, RING

Mar 01, 2018 · If the mining tax regime is more onerous than the standard tax regime, the taxpayer will seek to have these project related activities treated as down-stream activities outside the ring fence If they are treated as a separate activity, the taxpayer through abusive transfer pricing may shift profits to the lightly taxed downstream activities

Ring Fencing In Mining

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Miners reject ring-fencing policy - modernghana

Ring fencing is a proposed government policy that requires mining companies to match expenses from one mining area to revenue from the same mining area without defining a 'mining area' for the purpose of taxation for the industry

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Ring-fencing South Africa’s mining assets - An exit

Ring-fencing South Africa’s mining assets - An exit strategy for multinationals or a benefit for all stakeholders? Presented by: Dimitri Cavvadas London, UK December 1, 2014 Outline • What circumstances triggered the divestment trend? • When did the divestment trend

Oil and gas: Ring Fence Corporation Tax - GOVUK

Ring Fence Corporation (RFCT) tax and the supplementary charge only apply to companies involved in the exploration for, and production of, oil and gas in the UK and on the UK Continental Shelf (UKCS)) RFCT is calculated in the same way as Corporation Tax, but with the addition of a ‘ring fence’ that treats these activities as a separate trade

The Tax Treatment of the Mining Sector: An IMF Perspective

The Tax Treatment of the Mining Sector: An IMF Perspective 2 At the most general level, the issues relating to the tax treatment of the mining sector and It is important to determine the extent of “ring-fencing” of tax accounts Ring fencing means

EXPLORATORY ANALYSIS ON THE PRACTICABILITY OF RING FENCING

EXPLORATORY ANALYSIS ON THE PRACTICABILITY OF RING FENCING SCHEME IN MINERAL TAXATION-A Reflection of the Impacts on the Economic Growth and Sustainability in Tanzania 32 Pages EXPLORATORY ANALYSIS ON THE PRACTICABILITY OF RING FENCING SCHEME IN MINERAL TAXATION-A Reflection of the Impacts on the Economic Growth and Sustainability in …

The Taxation of South African Mining and Prospecting

The conclusion of the analysis on these issues has a direct bearing on the application of the ring-fencing provisions and the overall income tax position and financial soundness of the mining company

Baker Hughes Reservoir Blog Types of International

Ring fencing Ring fencing is simply the level at which each fiscal or administrative component is to be calculated or administered The level can be as low as the field/deployment area or up to the entire contract area; in some cases the entire region or country

Miners reject ring-fencing policy - modernghana

Mining companies have asked the government to review its new policy of ring-fencing mining operations insisting that, it is a disincentive to future investment in the sector Ring fencing is a proposed government policy that requires mining companies to match expenses from one mining area to revenue from the same mining area without defining a 'mining area' for the purpose of taxation for the industry

ring fencing australia tax mineral processing

Where mining companies in the past treated their mineral processing or the application of the ring fencing provisions and the overall income tax Contact US Oil and gas taxation in Australia Deloitte taxation and investment income tax regimes for oil and gas companies, such as project ring fencing

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How To Improve Mining Tax Administration And Collection

Mining Tax Administration and Collection Frameworks: A Sourcebook presents an overview of the compiled data and analysis Two consultants hired by the IMF also contributed to the effort This sourcebook is designed to provide a structured approach to help ministries in

Oil, Gas, and Mining Fiscal Terms | Natural Resource

Ring-Fencing Companies that have multiple activities within one country sometimes use losses incurred in one project (say, exploration expenses from a new mine that has not yet begun production) to offset profits earned in another project, thereby reducing overall tax payments

Baker Hughes Reservoir Blog Types of International

Ring fencing Ring fencing is simply the level at which each fiscal or administrative component is to be calculated or administered The level can be as low as the field/deployment area or up to the entire contract area; in some cases the entire region or country …

Ring Fencing Mining Legislation In Zimbabwe

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GUIDE ON THE RING-FENCING OF ASSESSED LOSSES …

Many examples of ring-fencing provisions can be found in the Act, which include, amongst other things, the ring-fencing of certain allowances and/or losses in the mining industry, farming activities, toll-road operators, leasing activities, foreign trades and pre-trade expenses

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Mining and Petroleum Taxation (Diagnostic Assessment) - IMF Establish the ring-fencing principle in a revised Mining Code and in the draft Gold mining activities in …

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