All data is delayed
See More

Namibia backs down from 44% mining tax

Aug 17 2011 18:50
Windhoek - Namibia will not go ahead with its plan to raise the mining tax for companies in the non-diamond sector to 44%, the ministry of finance said on Wednesday.
“Instead, the current rate of 37.5% to operate in conjunction with a formula-based surcharge to capture additional mining revenue during better economic periods is proposed,” it said.
The ministry said it revised the tax hike proposal due to major concerns from the industry.

namibia  |  mining sector  |  mining tax


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills..

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote