It is almost as ridicolous as mining and oil companies 0-tax bills in many African countries
Zambia Billions... Zambian Revenue Authority have sent First Quantum an $8 billion tax bill https://www.reuters.com/article/us-zambia-tax/zambia-slaps-miner-first-quantum-with-8-billion-tax-bill-idUSKBN1GW2FD … For context: thats about 10x FQM spend on capex & opex at Kinsanshi mine last year & more than the whole government budget
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That's a bit simplistic Lars. Given the nature of high upfront capital investment, and the way tax systems deal with these costs- there can be absolutely non-ridiculous reason for a company to have a 0 bill for profit taxes.
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Its more than the national debt of Zambia.
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MTN WAS GIVEN A TAX BILL OF $5bn in Nigeria and had to pay $1.5bn
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