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recoupment of mining assets

recoupment of mining assets Lions Club Valle del Conca

Recoupment of mining assets is taxed at the mining tax rate. The tax rate for registered manufacturers is 18% for a 10-year period. Recoupment of manufacturing assets is taxed at the manufacturing tax rate.

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Mining Tax Recommendations Tax Services Deloitte

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

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Cliffe Dekker Hofmeyr Debt reduction and mining assets

Feb 20, 2015· Generally, where there is a reduction of debt that has been used to fund deductible expenditure or allowance assets, a recoupment could arise in the hands of the debtor in terms of s19 of the Act. Similarly, where there is a reduction of debt that has been used to fund capital assets, it could result in a reduction of base cost and/or a capital

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Recoupment Of Mining Assets

Recoupment of mining assets is taxed at the mining tax rate. The tax rate for registered manufacturers is 18% for a 10-year period. Recoupment of manufacturing

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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.

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Mining Assets Buy Sell Trade Mines Online Including

Welcome! Welcome to Mining Assets, an online register of exploration tenements and mining projects for sale, joint venture and farm in. Learn More Wanted: If you are searching for a specific type of project, advertising on Mining Assets can help you find it. The below wanted ads are receiving numerous projects which vendors wouldn't otherwise advertise.

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Insights into Mining assets.kpmg

Oct 01, 2014· Unique to the mining industry, NAV multiples are . commonly observed or applied in valuations. A NAV multiple is the multiple of the price of a mineral property as implied by the company’s market capitalization or transaction amount to its net asset value (“NAV”). The NAV represents the net present value of the expected future

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Mining Reporting Survey 2017 assets.kpmg

Mining Reporting Survey 2016 FV of assets acquired in a business combination 5 1 4 10 Capitalization of E&E costs 1 6 2 9 Commencement of production 0 9 0 9 Recoverable metals in inventory 8 0 0 8 Control, joint control, significant influence 0 8 0 8 Streaming arrangements 0 7 0 7

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Recoupment financial definition of recoupment

To sell an asset at a price sufficient to recover the original outlay or to offset a previous loss.

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recoupment of mining assets Lions Club Valle del Conca

Recoupment of mining assets is taxed at the mining tax rate. The tax rate for registered manufacturers is 18% for a 10-year period. Recoupment of manufacturing assets is taxed at the manufacturing tax rate. Residence A corporation is resident if it is incorporated in Namibia. Basis Resident and nonresident entities are subject to

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Debt reduction and mining assets Lexology

Generally, where there is a reduction of debt that has been used to fund deductible expenditure or allowance assets, a recoupment could arise in the hands of the debtor in terms of s19 of the Act.

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Applicable Taxes

Recoupment of mining assets is taxed at the mining rate. The tax rate for registered manufacturers is 18% for a 10-year period. Recoupment of manufacturing assets is taxed at the manufacturing tax rate. Incentives: A number of incentives are available, such as manufacturing and export incentives and Export Processing Zones. These incentives are

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Cliffe Dekker Hofmeyr Debt reduction and mining assets

Generally, where there is a reduction of debt that has been used to fund deductible expenditure or allowance assets, a recoupment could arise in the hands of the debtor in terms of s19 of the Act. Similarly, where there is a reduction of debt that has been used to fund capital assets, it could result in a reduction of base cost and/or a capital

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Cliffe Dekker Hofmeyr Equality of a different kind

Oct 06, 2017· 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. Paragraph 12A, however, fails to take into account whether or not an upfront allowance may have been

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LEADER IN NURTURING CHARTERED ACCOUNTANTS

Recoupment (Sect 8(1) j A miner’s recoupment is generally the proceeds on disposal A recovery (insurance proceeds) in respect of damage or destruction of an asset restricted to deductions claimed. Restriction if the asset sold has been subject to a limit. e.g.

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Answers

The option to transfer the assets at market values would be the preferable option for the following reasons: This method would help to utilise the projected assessed loss brought forward by setting it off against the recoupment. MSC would be able to claim capital allowances on the enhanced values of the assets instead of on the basis of their

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RECOUPMENT

If a client requests recoupment for a greater amount, send a monthly bill to the client for the amount that is greater than the mandated recoupment amount. See 0025.21.15.03 (Amount to Recoup) . The county agency must recoup from participants if the unit fails to pay the claim in full within 30 days of being notified of the claim.

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Capital Gains Tax Reits, recoupments and assessed losses

Jan 28, 2014· Despite enjoying exemption from Capital Gains Tax (CGT) on most immovable property related asset disposals, REITs are not specifically exempt from the recoupment of past wear and tear allowances deducted on immovable property. This is reflected in the resultant deferred tax liabilities being maintained by reporting REITs.

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4.41.1 Oil and Gas Handbook Internal Revenue Service

A similar analysis will be required for assets that are placed into service in such MACRS asset classes as Offshore Drilling (13.0), Drilling of Oil and Gas Wells (13.1), Petroleum Refining (13.3), and Natural Gas Production Plant (49.23) since the class life for each is less than 20 years.

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THE RIGHT TAX ISSUES ON MINING AND PETROLEUM

The membership interest in a body shall be treated as a business asset. All mining and petroleum resources are public property which has a significant contribution to the tax development of the country. In addition, to the government revenue, the benefits from a large scale mining and petroleum sector include export earnings, employment and so on.

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HARD-ROCK MINING

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

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