recoupment of mining assets

JMT411 - 06 - Special Inclusions 2017.docx - JMT411 LAW OF ...

View Notes - JMT411 - 06 - Special Inclusions 2017.docx from ACC JJT at Nelson Mandela Metropolitan University. 7aef8a6a5020638806dfa4b62ae40043dc566b5e.docx JMT411 ...

recoupment of mining assets - Good News Bible College ...

Debt reduction and mining assets - Polity.org.za. Debt reduction and mining assets. ... where there is a reduction of debt that has been used to fund deductible expenditure or allowance assets, a recoupment …

recoupment of mining assets - kilawarhing.in

Recoupment of mining assets is taxed at the mining tax rate. Capital allowances | Zimbabwe Revenue … Website of the Zimbabwe Revenue Authority (ZIMRA) - News, Notices, Taxation and Service Information, Forms, etc.

Namibia Tax Facts - EY

The recoupment is limited to the expenditure ... Mining companies are also liable to recoup capital allowances claimed. The proceeds are not limited to the cost of the asset and as such any capital gain made on the disposal of mining assets will be subject to tax. ... Namibia Tax Facts ...

Capital allowances | Zimbabwe Revenue Authority (ZIMRA)

Note that with effect from 1 January 2018 the Special Initial Allowance on residential unit used for housing the special mining lease holder's employees is now pegged at US$25 000.

IN THIS ISSUE TAX - Cliffe Dekker Hofmeyr

IN THIS ISSUE DEBT REDUCTION AND MINING ASSETS SALE OF SHARES SUBJECT TO SUSPENSIVE CONDITIONS ALERT l 20 FEBRUARY 2015 DEBT REDUCTION AND MINING ASSETS ... expenditure or allowance assets, a recoupment could arise in the hands of the debtor in terms of s19 of the Act. Similarly,

Coal Mining Lease and Sublease - SEC.gov

THIS COAL MINING LEASE AND SUBLEASE ("Lease") is made and entered into as of the 19th day of December, 2002, by and between Fieldcrest Resources LLC, a Delaware limited liability company, having its principal offices at 2550 East Stone Drive, Suite 200, Kingsport, TN 37660 (the "Lessor"), and Gallo Finance Company, a Delaware corporation, having its principal offices at 701 Market ...

Proposal to amend debt reduction rules applicable to ...

In other words, the mining company will be taxed on the recoupment of the 100 per cent upfront deduction previously granted in respect of the mining asset and included in the taxable income of the ...

UNITED STATES BANKRUPTCY COURT

UNITED STATES BANKRUPTCY COURT. EASTERN DISTRICT OF KENTUCKY. PIKEVILLE . IN RE: CANADA COAL COMPANY, INC. ... It appears from the record that Canada Coal was not mining on the Smith-Rowe heirs = tract and prior to July 19, ... The agreement for the sale of assets does not refer to recoupment of any portion of that payment.

mineral deposits in nigeria illustrated with a map

recoupment of mining assets samassociates.co.in. mineral deposits in nigeria illustrated with a map, Recoupment Of Mining Assets Subsea Mineral Mining Exploration Project Update, for the recoupment of, Chat online. Placer deposit Wikipedia.

Namibia Tax Facts - EY

from Namibia or withdrawn from trade. The recoupment is limited to the expenditure claimed as capital allowances. Mining companies are also liable to recoup capital allowances claimed. The proceeds are not limited to the cost of the asset and as such any capital gain made on the disposal of mining assets will be subject to tax.

Mining Tax Recommendations | Tax Services | Deloitte ...

8. Recoupments relating to mining assets. The value of mining assets in a sale of a mining concern transaction is governed by section 37 of the Income Tax Act, whereby an effective value (similar to an insurance replacement value) is attributed to the mining assets (land, mining rights and …

HARD-ROCK MINING - Tax Com

tax allowances) involve the enactment of unique recoupment provisions applicable to mining taxpayers only (in essence, on the sale of a mining going concern). In terms of these provisions, the sales of mining assets need to be valued by the Department of Mineral Resources. 9. The MPRDA, which seeks to regulate the mining industry, was enacted ...

Davis Tax Committee recommends changes to mining capex ...

Removal of section 37 to bring the recoupment of mining assets in line with recoupments of non-mining assets. An investigation be conducted to provide appropriate tax relief in respect of all the rehabilitation funding mechanisms. Costs incurred in relation to the mining charter to be deductible.

Answers - ACCA Global

date of sale of the immovable asset 1 – Corporate tax of 30% on the recoupment of capital allowances previously granted on the movable assets as follows: 1 Recoupment ($000) Haulage trucks 300 000 Passenger motor vehicles 165 000 Office equipment 248 000 …

Equality of a different kind - Proposal to amend the debt ...

In other words, the mining company will be taxed on the recoupment of the 100 per cent upfront deduction previously granted in respect of the mining asset and included in the taxable income of the ...

Namibia Taxes Overview | SA Tax Guide

The effective tax rate for diamond mining and diamond mining services companies is 55%. Tax rate for petroleum mining companies is 35%. Nonmining income earned by mining companies is taxed at 35%. Recoupment of mining assets is taxed at the mining tax rate. The tax rate for registered manufacturers is 18% for a 10-year period.

Debt reduction and mining assets - The SA Institute of Tax ...

Section 19 would be applicable to the extent that the loan related to mining assets in respect of which a deduction was claimed under s15(a) of the Act as read with s36 of the Act. ... of the loan would not constitute 'gross income' for Company B to the extent that it does not otherwise constitute a recoupment.

Coal Mining Lease and Sublease - SEC.gov

COAL MINING LEASE AND SUBLEASE . THIS COAL MINING LEASE AND SUBLEASE ("Lease") is made and entered into as of the 19th day of December, 2002, by and between Fieldcrest Resources LLC, a Delaware limited liability company, having its principal offices at 2550 East Stone Drive, Suite 200, Kingsport, TN 37660 (the "Lessor"), and Gallo ...

Amond Mining Equipment Namibia - baoli-forklifts.co.za

Recoupment of mining assets is taxed at the mining tax rate. The tax rate for registered manufacturers is 18% for their first 10 years. Recoupment of . Chat With Sales. Ministry of Mines and Energy - Diamond Affairs.

Sunk Cost - Investopedia

A sunk cost is a cost that has already been incurred and cannot be recovered. A sunk cost differs from future costs that a business may face, such as decisions about inventory purchase costs or ...

THIS ARTICLE - MD Accountants & Auditors Inc.

If an asset is used for trade for less than a full year of assessment, the allowance must be apportioned. This would apply, for example, if an asset is acquired or disposed of part of ... mining the expected useful life of an asset includes : • manufacturer's specifications; • independent engineering

Cliffe Dekker Hofmeyr - Equality of a different kind ...

In other words, the mining company will be taxed on the recoupment of the 100 per cent upfront deduction previously granted in respect of the mining asset and included in the taxable income of the mining company and subject to normal tax.

Worldwide Capital and Fixed Assets Guide 2016 - EY

Worldwide Capital and Fixed Assets Guide. provides information on the regulations relating to fixed assets and depreciation in each jurisdiction, including sections on the types of tax depreciation, applicable depreciation rates, tax depreciation lives, qualifying and non-qualifying assets,

RECOUPMENTSCRAPPING ALLOWANCE KEY PR Potential Recoupment ...

RECOUPMENT/SCRAPPING ALLOW (CONTD) NB Recoupment of an asset is the lesser of profit as per the taxman and the actual capital allowances claimed on the asset The above determination of recoupment applies to all types of business except mining. 5/20/18 23.

Corporate income taxes, mining royalties and other mining ...

PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 5 Indonesia has tax incentives for specifi c mining activities such as basic iron and steel manufacturing, gold and silver processing, certain brass, aluminium, zinc and nickel processing activities and quarrying of certain metal and non-metal ores.

section 261 mining south africa - conferenceamr2014.nl

Mining Tax Recommendations by the Davis Tax Committee ... mining tax system in South Africa has ... of section 37 to bring the recoupment of mining assets ... REPORTABLE THE SUPREME COURT OF APPEAL OF …

Namibia Taxes Overview | South African Tax Guide

The effective tax rate for diamond mining and diamond mining services companies is 55%. Tax rate for petroleum mining companies is 35%. Nonmining income earned by mining companies is taxed at 35%. Recoupment of mining assets is taxed at the mining tax rate. The tax rate for registered manufacturers is 18% for a 10-year period.

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