ࡱ> MHIJKL}<(mi @4/ 0DArialNarrowanllϒ -a0"DTimes New Romanllϒ -a0 DArial Narrowanllϒ -a0"@ .  @n?" dd@  @@``   X $1   **>>//HG,,HHFgxJ/ 2j7`/):2m  Vr;hdxczD05!l onp8qwrstPu99wAx-y2|}~g 0AA ffPP(&@6ʚ;ʚ;g4dddd -a0ppp@ <4dddd8))0lϒ  <4dddd8K*0l(9___PPT10 pp66___PPT9{?  %O  =+nTax Aspects of Domestic Resource Mobilisation  a Discussion of Enduring and Emerging Issues Taxation of Natural Resources  Annex: Cross-country comparisons: royalties & rent taxes ,0 . Z! o UN Financing for Development Office & IFAD Rome, 4-5 September 2007 M Grote National Treasury, South Africa pPG)&SA proposed royalty rates (Draft 2006)'' )Cross-country analysis of royalty regimes** Cross-country analysis of royalty regimes  African jurisdictionsBBlWestern Australia  royalty rates as on 1 January 200377Western Australia  royalty rates as on 1 January 2003, in Australian $/cJJBInternational royalty rates (in %) comparisons across commodities C$BInternational royalty rates (in %) comparisons across commodities C$BInternational royalty rates (in %) comparisons across commodities C$BInternational royalty rates (in %) comparisons across commodities C$Z2004/05 Cross-country tax rate analysis PriceWaterhouseCoopers Corporate Taxes  Worldwide Summaries April 2005 NBER Working Paper on Developing Countries Tax Structures ))o2004/05 Cross-country tax rate analysis PriceWaterhouseCoopers Corporate Taxes  Worldwide Summaries April 2005 NBER Working Paper on Developing Countries Tax Structures 2006 Index of Economic Freedom  Heritage Foundation & Wall Street Journal Deloitte.Touche  Guide to Key Fiscal Information, Southern Africa, 2005/06 D) ,)=2004/05 Cross-country tax rate analysis PriceWaterhouseCoopers Corporate Taxes  Worldwide Summaries April 2005 NBER Working Paper on Developing Countries Tax Structures 2006 Index of Economic Freedom  Heritage Foundation & Wall Street Journal Deloitte.Touche  Guide to Key Fiscal Information, Southern Africa, 2005/06 D) ,)=SA gold mining tax formula P1966 gold mining formula had average tax rate spreads ranging from 0% to 70.5%. (unacceptable, as every $ of profit should attract income tax, but govt. created incentive to mine marginal ore) Only taxable income from 5% profit ratio upwards attracted tax Currently, income derived from mining of gold is calculated according to following formulae (on basis of new 2005 corporate rate of 29%): Y = 35  175/X (elected to be exempt from STC). Y = 45  225/X (not exempt from STC), where Y is the percentage tax payable and x is profit ratio of the mine, expressed as percentage. Profit ratio (x) is calculated as follows: taxable income from gold mining over gross mining income. X   2Tax effect of SA gold mining formula: Y = 45-225/X3&  #Cross-country analysis - oil & gas $$  Jurisdictions favour: Separate oil and gas tax legislation, not part of mining regime back-end loaded regime due to immediate expensing of all investments Profile of  most favoured fiscal regime based on study (1997) comparing 43 countries: Tax design based on field-by-field approach 95,3% of countries levy CIT with average nominal rate of 33,9% 83,7% impose CIT in combination with royalty 12 apply sliding scale royalties based on production vols: 0-30% 15 impose fixed royalties, from 12 to 15% 14 front-end load through bonus bidding 46,5% impose acreage fees production sharing contracts are not favoured (only 4 then - more now) carried equity participation by Government limited (12%) rate of return-linked windfall profit taxes are mostly rejectedZWZW 2P 0Competitive outlook for key mining jurisdictions11 Canadian Fraser Institute Annual Survey of Mining Companies: 2004/05  based on feedback of 1 121 international senior & junior mining co s Policy Potential Index - report card to governments on attractiveness of respective mining policies, tax, environmental regs., admin regs & compliance burden, native land claims/equity participation, infrastructure, labour laws, political stability. Highest possible score on index is 100: Nevada at 95 (highest), Manitoba 89, Alberta/Ontaria 78, Western Australia 74-78, Chile 74, Chile 74, Mexico 71, Ghana 60, Tanzania 56, China 49, Brazil 47, Peru 46, Zambia 38, Botswana 35, SA 32 (2002/03 still 47), Philippines 24, Russia 19 (4th lowest), DRC 11, Zimbabwe 8 (lowest) Mineral Potential Index, rates region s geological attractiveness: Nevada 96 (highest), Chile 94, Quebec 89, W-Australia 87, Mexico 87, Brazil 83, Mali 80, Tanzania 77, Ghana 76, Peru 74, China 72, Botswana 67, SA 54 (2002/03 71), Russia 53, Zambia 53, Alaska 43, Zimbabwe 22, California 16 (lowest) Best Practices Mineral Potential Index: shows mineral potential of countries, assuming their policies are based on best practice together with mineral potential: Tasmania 100 (highest), Alaska 98, W-Australia 97, Russia 93, SA 91 (tied with New South Wales & South Australia, China, Zambia, Mexico), Botswana 84, Ghana & Mali 83, Zimbabwe 60, Ireland 38 (lowest).jxCZnZn  , '{          P Oq  0` 33` Sf3f` 33g` f` www3PP` ZXdbmo` \ғ3y`Ӣ` 3f3ff` 3f3FKf` hk]wwwfܹ` ff>>\`Y{ff` R>&- {p_/̴>?" dd@$~?" dd@  " @ ` n?" dd@   @@``PR    @ ` ` p>>  ` G(    H k & #"     9title $  0M "ji   RClick to edit Master text styles Second level Third level Fourth level Fifth level!     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K{7Wp_`   H|57vvG? b  O0.5 @`  <77? b  HFeldspar, fluorspar, barytes, gypsum, magnesite, mineral pigments, silica, sillimanite, talc, slate, shale, attapulgite, bentonite, flint clays, etcb     @`  <0L7?` b  ^Low value minerals @`  H)vvG?"`   M5 @`  <+?"`   ^Unpolished diamonds  @`   <;?"``   TDiamonds   @`   H(JvvG? b U 3 vs. 1.5   @`   <K?b 0Illmenite, rutile, zircon: refined vs. unrefined11$   @`   <]?`b ZSpecial metals @`   HvvG?b   M1 @`c  <@s?b   gAndalusite, asbestos, barytes, mica, calcite, fluorspar, gypsum, granite, kieselguhr, phosphates, clayshh6  -  @`  <p?`b   n"Industrial & Agricultural Minerals## @`  HvvG?P  M5 @`   <|?P LAmethyst, agate, quartz, tiger eye, beryl, topaz, tourmaline, malachite etc.MM @`  <X?`P [Precious Stones @`  HvvG? P ]1.5 vs. 3 3 vs. 6 @`  <Ѝ? P QGold & silver: refined vs. unrefined Platinum group metals: refined vs. unrefinedRR @`  <L?` P \Precious Metals  @`  HvvG?   M0 @`  <O?  ;Limestone, lime, dolomite, phosphate rock, aggregates, salt<< @`  <$?`  aConstruction material @`  BhvvG?b  e1 3 1.5 vs. 3 3 vs. 1.5P @`  <?b fCoal above 15% ash content Coal below 15% ash content Uranium oxide vs. concentrate Oil & Gas  shallow depth < 500m vs. deep water of > 500mP @`  <?`b ]Energy MineralsP @`  HvvG?"  S2 vs. 4 @`2  <X?" tAntimony, cobalt, copper, iron, lead, manganese, nickel, tin, zinc, silicon, vanadium, chrome: refined vs. unrefineduu @`  <ԣ?`" bBase Metals / Minerals @`  HvvG? " gStandard Royalty Rate in % @`   HAvvG?" }1Mineral & Petroleum Product within Classification22 @` ! HvvG?`" dCommodity Classification @`lB " <o ?` fB # 61 ?`" "fB $ 61 ?`b bfB % 61 ?` fB & 61 ?`  fB ' 61 ?`P PlB ( <o ?` fB ) 61 ? fB * 61 ? lB + <1 ?`  ZB , s *1 ?` `B - 01 ?`  lB . <o ?` ` lB / <o ?`` lB 0 <o ?` `lB 1 <1 ?  fB 2 61 ? lB 3 <1 ?  fB 4 61 ? lB 5 <o ?   lB 6 <o ?   lB 7 <o ?  ZB 8 s *1 ?`b b H  0޽h ? ̙33y___PPT10Y+D=' 7= @B +s 60 *(  ~  s *C74  7   # #"bV=  Bl"?   X   @`  Ba?   OX  @`  Bh? [  X   @`  B䐃? [ X   @`  Bt?   X   @`   B? W   X   @`   B?? W  \    @`   B?  \    @`   B(? J  X   @`   B? J  X   @`  B?   OX  @`  BL? F  X   @`  B\}?  F X   @`  B)?   X   @`  B ?   X   @`  B7? #  X   @`  B0O7? w # X   @`  B7?  w X   @`  Bx7?   X   @`  <f?   `NET SMELTER RETURN  @`  B?  X   @`  BM?  X   @`  BU? [ X   @`  B? [ X   @`  B?    X   @`  B? W   X   @`  B? W  \    @`  B?   \    @`   B? J   X   @` ! B? J  X   @` " BH?   X   @` # BDM? F X   @` $ Bd M? F X   @` % BM?  X   @` & BDM?  OX  @` ' B"M? # X   @` ( B+M? w# X   @` ) B4M? w X   @` * B=M?  X   @` + <?Mf?  ^SPECIFIC ROYALTY  @` , BPM?  X   @` - BYM?  X   @` . B0[M?  X   @` / BkM? OX  @` 0 BtM? W PHILIPPINES    @` 1 B}M?  X   @` 2 BM?  X   @` 3 BM?  X   @` 4 BM? OX  @` 5 B\M? X P-NEW GUINEA    @` 6 B8M? [ X   @` 7 B M?[  X   @` 8 BM?[  X   @` 9 B\M?[ OX  @` : B BM? [ OX  @` ? BM? [ V UZBEKISTAN    @` @ BN?    X   @` A B N?   OX  @` B B|N?  X   @` C B N?   X   @` D BD*N?   V KAZAKHSTAN    @` E B2N? W   X   @` F B;N?W   X   @` G B=N?W   X   @` H BNN?W   OX  @` I BVN?W   U INDONESIA    @` J B_N?  W  \    @` K BhN? W  \    @` L BqN? W  \    @` M BsN? W  p[X] Mar 04    @` N BN? W  UCHILE  @` O BN?    \    @` P BdN?   \    @` Q BȟN?  \    @` R BDN?   p[X] Mar 04    @` S B`N?   TPERU  @` T B  B "S? O  MX @` ?  B+S?   RMALAWI @` @  BS?W  V  @` A  BX/S?$W  V  @` B  B<8S?] $  V  @` C  BlOS?O]  V  @` D  BXS?O  MX @` E  BbS?  SLESOTHO @` F  BjS?Ws V  @` G  BsS?$sW V  @` H  B8}S?] s$ MX @` I  B,S?Os]  V  @` J  BS?sO V  @` K  BđS?s W IVORY COAST   @` L  BlS?W}Z V  @` M  BTS?$}WZ V  @` N  BS?] }$Z MX @` O  B$S?O}] Z V  @` P  B$S?}OZ V  @` Q  B,S?}Z TBOTSWANA   @`lB R  <o ?jjfB S  61 ?ZZfB T  61 ?fB U  61 ?  fB V  61 ?  fB W  61 ?  fB X  61 ?  fB Y  61 ?JJlB Z  <o ?lB [  <o ?jfB \  61 ?jfB ]  61 ?OjOfB ^  61 ?] j] fB _  61 ?$j$fB `  61 ?WjWlB a  <o ?jfB b  61 ?fB c  61 ?}}fB d  61 ?  fB e  61 ?vvfB f  61 ?ssH   0޽h ? ̙33y___PPT10Y+D=' 7= @B +/Q 60 VPNPmmO(  ~  s *@=Y  Y (O D<! # #"bVWD<  </Y?u<! ^If screened 7.5%  @`  <EY?& u! kAny other mineral not specified    @`  <0Y?u& ! P5%  @`  < _Y?Du! ]Lead: concentrate  @`  <hY?<u `Concentrate at 5%   @`   <qY?& u kAny other mineral not specified    @`   <kY?& u P5%  @`   <|tY?Du RKaolin  @`   <\Y?< P5%  @`   <dY?&  RZircon  @`  <lY?&  P5%  @`  <Y?D bIron ore: beneficiated  @`  <Y?q < Y 5% and 2.5%    @`  <Y?& q  ~2Zinc: concentrate  metal  @`  <Y?q &  T5.625%  @`  <Y?Dq  ^Iron ore: fine ore  @`  <XY? <q  X 1.5% to 5%    @`  <Y?& q  FVanadium  negotiated with Minister$$  @`  <pY? & q  R7.5%  @`  <Y?D q  ^Iron ore: lump ore  @`  <Y? <  R2.5%  @`  <\?&    U Tin metal    @`  <Y? &  P5%  @`  <x\?D   Ilmenite (Titanium oxide 90%)  @`  <|\?i <  W 3.3% - 5%    @`  <!\?& i   r&Tantalum, concentrate and beneficiated''  @`  <2\?i &   R7.5%  @`  <4;\?Di   dGems and precious stones  @`   <D\? <i  P5%  @` ! <5\?& i  p Spongolite     @` " <V\? & i  X 2.5% to 5%    @` # <@_\?D i  RGarnet  @` $ <h\? <  R2.5%  @` % <q\?&    RSilver  @` & <z\? &  P5%  @` ' <\?D   TFeldspar    @` ( <\?e <  R7.5%  @` ) <@\?& e   `Semi-precious stones  @` * <P\?e &   R7.5%  @` + <\?De   SDiamond  @` , <\?<e  P5%  @` - <\?& e  lRutile  @` . <h\?& e  R2.5%  @` / <\?De  aCopper: metallic form  @` 0 <l\? < R2.5%  @` 1 <\?&  p Platinoids     @` 2 <\? &  P5%  @` 3 <8\?D  _Copper: concentrate  @` 4 <h\?a<  P5%  @` 5 <]?& a  QOchre  @` 6 <]?a&  R2.5%  @` 7 <]?Da  hCobalt: as nickel by-product  @` 8 < ]?<a dAccording to a formula  @` 9 < ]?& a SNickel   @` : <2]?& a R2.5%  @` ; <;]?Da aCobalt: metallic form  @` < <D]?< P5%  @` = <`N]?&  cManganese: beneficiated  @` > <H]?&  P5%  @` ? <8`]?D _Cobalt: concentrate  @` @ <8I]?Y< R7.5%  @` A <`r]?& Y U Manganese    @` B <{]?Y&  R7.5%  @` C <(]?DY W Export coal    @` D <8]?<Y P5%  @` E <$]?& Y \Lithium minerals  @` F <]?& Y P5%  @` G <Ԩ]?DY nChromite    @` H <]?< P5%  @` I <p]?&  U Leucoxene    @` J <0]?&  R7.5%  @` K <]?D SBauxite  @` L <8]?U< R2.5%  @` M <]?& U ZLead: metallic  @` N <]?U&  P5%  @` O <]?DU q Attapulgite     @` P <]?<U t&AD VALOREM ROYALTY % OF ROYALTY VALUE''  @` Q <^?& U UMINERAL  @` R < ^?& U t&AD VALOREM ROYALTY % OF ROYALTY VALUE''  @` S <$^?DU UMINERAL  @`lB T <o ?D<fB U 6o ?DU<UfB V 61 ?D<fB W 61 ?D<fB X 61 ?DY<YfB Y 61 ?D<fB Z 61 ?D<fB [ 61 ?Da<afB \ 61 ?D < fB ] 61 ?D<fB ^ 61 ?De <e fB _ 61 ?D < fB ` 61 ?D < fB a 61 ?Di <i fB b 61 ?D < fB c 61 ?D < fB d 61 ?Dq <q fB e 61 ?D<fB f 61 ?D<fB g 61 ?Du<ulB h <o ?D!<!lB i <o ?DD!fB j 61 ?!fB k 61 ?!lB l <o ?<<!fB m 6Ԕ ?& & !H  0޽h ? ̙33y___PPT10Y+D=' 7= @B +& 60 >%6%77$(  ~  s *C^  ^ $  # #"RFh<i  <M^?  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RMALAWI @` D B |?sk P-- @` E B||?ks P-- @` F B|?Hk P-- @` G B%|?_ kH S4  @` H <.|?O k_  P10 @` I B7|?pkO  P-- @` J B@|?kp O? @` K BI|? k SNAMIBIA @` L BR|?s6k R5-10 @` M B[|?6sk R5-10 @` N Bd|?H6k R5-10 @` O Bm|?_ 6Hk V5-10  @` P <v|?O 6_ k P10 @` Q B|?p6O k R5-10 @` R B|?6pk R5-10 @` S B|? 6k SLESOTHO @` T B|?s6 TCOPPER @` U B|?s6 VIRON ORE   @` V B8|?H6 aINDUSTRIAL MINERALS @` W BH|?_ H6 VCOAL  @` X <|?O _ 6 VDIAMONDS   @` Y B |?pO 6 VPLATINUM   @` Z B|?p6 SGOLD  @` [ B|? 6 UCOUNTRY @`fB \ 6o ? 66fB ] 61 ? k_ kfB ^ 61 ? _ fB _ 61 ? _ fB ` 61 ? _ fB a 61 ? _ fB b 61 ? _ fB c 61 ? r _ r fB d 61 ? _ lB e <o ?  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TCOLOMBIA   @`  N~ ?"2 _Proposed for oil  @`   N~ ?"2 Q--  @`   ND ?"2  Q--  @`   N  ?"2   Q--  @`   N ?"2q   Q--  @`   N$ ?"2 q  P-- @`  N,$ ?"2u  Q--  @`  N4- ?"2u Q--  @`  N<6 ?"2| Q--  @`  # l|?a)d @?#"  2| _WINDFALL PROFIT TAX @`  NH ?" 2 aSeverance taxes-- % @`  NQ ?"  Q35% @`  NtZ ?" Y UNITED STATES @`  Nc ?" 2 R-- % @`  Nl ?"  Q24% @`  Nu ?" RRUSSIA @`  N ?" 2 U1 to 3% @`  N ?"  Q30% @`  N ?"  PPERU @`  N  ?" 2  S-- %  @`  N ?"  Q33% @`  N ?"   QChina @`-  N0 ?" q 2  )3%, for base metal output > 60 000 tonnes**# @`:  ND ?"q  X17% but non-resident co s distributions: 35%-- @`   Nɀ ?#" `q   QCHILE @` ! 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I2 +,a Discussion of Enduring and Emerging Issues.-@Times New Roman-. 42 <Taxation of Natural Resources .-@Times New Roman-.  2 <ld.-@Times New Roman-. 2 <qAnnex:.-@Times New Roman-. 2 DCross:.-@Times New Roman-.  2 D-d.-@Times New Roman-. I2 D!,country comparisons: royalties & rent taxes .-@"Arial-. F2 S*UN Financing for Development Office & IFAD.-@"Arial-. 2 Y/Rome, 4.-@"Arial-.  2 YB-d.-@"Arial-. 2 YD5 September 2007.-@"Arial-. 2 kHM Grote.-@"Arial-. 62 p1National Treasury, South Africa.-՜.+,0     [On-screen ShowNational Treasury(< ArialTimes New Roman Arial NarrowDefault DesignTax Aspects of Domestic Resource Mobilisation a Discussion of Enduring and Emerging Issues Taxation of Natural Resources Annex: Cross-country comparisons: royalties & rent taxes 'SA proposed royalty rates (Draft 2006)*Cross-country analysis of royalty regimesBCross-country analysis of royalty regimes African jurisdictions7Western Australia royalty rates as on 1 January 2003JWestern Australia royalty rates as on 1 January 2003, in Australian $/cCInternational royalty rates (in %) comparisons across commoditiesCInternational royalty rates (in %) comparisons across commoditiesCInternational royalty rates (in %) comparisons across commoditiesCInternational royalty rates (in %) comparisons across commodities2004/05 Cross-country tax rate analysis PriceWaterhouseCoopers Corporate Taxes Worldwide Summaries April 2005 NBER Working Paper on Developing Countries Tax StructuresD2004/05 Cross-country tax rate analysis PriceWaterhouseCoopers Corporate Taxes Worldwide Summaries April 2005 NBER Working Paper on Developing Countries Tax Structures 2006 Index of Economic Freedom Heritage Foundation & Wall Street Journal Deloitte.Touche Guide to Key Fiscal Information, Southern Africa, 2005/06D2004/05 Cross-country tax rate analysis PriceWaterhouseCoopers Corporate Taxes Worldwide Summaries April 2005 NBER Working Paper on Developing Countries Tax Structures 2006 Index of Economic Freedom Heritage Foundation & Wall Street Journal Deloitte.Touche Guide to Key Fiscal Information, Southern Africa, 2005/06SA gold mining tax formula3Tax effect of SA gold mining formula: Y = 45-225/X$Cross-country analysis - oil & gas 1Competitive outlook for key mining jurisdictions  Fonts UsedDesign Template Slide Titles'_(Michael.LennardMichael.Lennard  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./012345679:;<=>?ABCDEFGNRoot EntrydO)Current User@SummaryInformation(DPowerPoint Document((DocumentSummaryInformation88