RE: Relax2 Aug 2024 09:56
Toffers, I'm covering old ground here on exploration licences which means the government has non negotiable back in rights of 16% and providing all the regulations are met then a mining development licence WILL BE ISSUED. As for further taxes, like anywhere in the world their tax man will be laying tax on profit and I don't know the rates of that. Maybe somebody has the time to find out but even if producing in six months, I wouldn't expect taxable profits for a few years because of losses carried forward.
My only view on tax is that if required to pay tax, it means you are making a profit. While none of us want to pay tax it will be good to be a in a position to need too.