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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Replying to @MForstater
It is almost as ridicolous as mining and oil companies 0-tax bills in many African countries
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Replying to @LarsKoch
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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Replying to @MForstater
"can be" :-) Point is that the Zambia and Tanzania proposals are as ridicolous as the non-payment of many extractives
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Replying to @LarsKoch
Maya Forstater Retweeted Maya Forstater
Lars. How do you judge when a 0 corporate tax payment by a mine is 'ridiculous' and when it is a normal result of the economics of mining? Maya (not Mary)https://twitter.com/MForstater/status/981080808051085312 …
Maya Forstater added,
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Replying to @MForstater @LarsKoch
Lars this is a real question. Perhaps you could answer as I answered all your questions? I prefer people to talk to me than about me.
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Replying to @MForstater
Just reading "Beyond big numbers". Are you aware that Oxfam and other CSOs do way more work in countries to change tax policies, advocate for ending incentives, property taxes, broadening of tax base, accountability of power holders etc? Anti-MNC-dodging only one element
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Yes. Reference work of Oxfam Novib for example https://maketaxfair.net
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