OECD: Mining investors and tax incentives | KPMG | GLOBAL
close
Share with your friends

OECD: Developing countries, mining investors and tax incentives

OECD: Mining investors and tax incentives

The Organisation for Economic Cooperation and Development (OECD) today issued a release intended for resource-rich developing countries and the attempts by multinational mining enterprises to avoid taxes through the use of tax incentives.

1000

Related content

As noted in the OECD release, many governments of resource-rich developing countries are under pressure to offer tax incentives in order to attract mining investors. However, these incentives may significantly reduce government revenue, especially when investors use them in ways that exceed the tax benefit initially intended by government. The OECD provided a “draft toolkit” prepared by the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF), under a programme of co-operation with the OECD, to help governments anticipate and limit the cost of mining tax incentives. This is part of broader efforts to address some of the challenges developing countries are facing in raising revenue from their mining sectors. Comments are due by 6 July 2018, with the aim of finalising the draft toolkit in the coming months. 

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit