The Mining Industry and Taxes

The Press Statement that the Tanzania Chamber of Minerals and Energy released yesterday contained a few typos for which we humbly apologize.  Today, we run the Press Statement again, but with all the typos corrected.

Tanzania Chamber of Minerals and Energy (TCME) notes with concern the false allegations that Mining Companies have not been paying taxes in Tanzania. The Chamber represents member companies in the formal mining sector, from junior explorers to large-scale producers as well as medium scale miners. The Chamber and its members support a well-regulated local industry and place great emphasis on compliance with all relevant local and international laws and rules, including tax codes governing its members.

Mining companies in Tanzania are highly regulated and remain to be significant contributors to the economy of the country in many ways, among them being through tax payments and employment creation. Between 2009 and 2015, the Tanzania Minerals Audit Agency, an arm of the Ministry of Energy and Minerals, reported that these companies collectively paid over USD390 Million (TZS 870 Billion) in Royalties, and USD 305 Million (TZS680 Billion) in Corporation Taxes, along with other significant taxes.

http://www.tcme.or.tz/uploads/Mining_Industry_and_Taxes__April_2017.docx

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