Government seeks feedback on mining reviews

Press Release – NZ Petroleum and Minerals

Government seeks feedback on mining reviews The Government is calling for public feedback on proposed changes to royalties and the taxation of minerals.
Government seeks feedback on mining reviews

The Government is calling for public feedback on proposed changes to royalties and the taxation of minerals.

Two papers – Reviewing the Royalties Regime for Minerals and Taxation of Specified Mineral Mining – have now been released for public consultation. The royalties paper sets out proposals related to Government revenue from minerals, not oil and gas. The tax paper also excludes oil and gas from its proposals, as well as coal.

“Minerals are important to New Zealand’s economy,” Mr Heatley said.

“New Zealanders are generally comfortable with mining so long as it’s done safely and responsibly, with a strong regulatory framework.

“And they know that the royalties and taxes the Crown gets from mining companies pay for hospitals, school and roads. There is real potential for that contribution to grow,” he said.

Full article

More information on Reviewing the Royalties Regime for Minerals

More information on Taxation of Specified Mineral Mining

ENDS

Content Sourced from scoop.co.nz
Original url