Call for Mining Companies to Pay Corporation Tax

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Tanzania has reported that only Resolute Resources paid corporation tax in the financial year of 2010/11 after closing down its Nzega gold mine in Tabora while Barrick Gold Corporation may close down Bulyanhulu and North Mara gold mines in the next decade without paying similar tax. Resolute which has operated Nzega gold mine for over 15 years, before closing down last year, paid 37.2bn/- as corporate tax for its last two years of operations. Tanzania Extractive Industry Transparency Initiative (TEITI) Chairman, Justice Mark Bomani said in Dar es Salaam on Friday that Barrick which is the country's largest gold miner owning three mines including Buzwagi, has a backlog of 1.3 billion US dollars (over 2.1trn/-) losses which it is recovering. Read more.

 

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