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Article: Super-tax on mining profits reckless: DA
- Thread starter rpm
- Start date
The ANC's support of a super-tax on mining profits was reckless and would kill jobs and investment, the Democratic Alliance said on Sunday.
"We need proposals that will attract investment and create jobs so that everyone can share in the wealth of our mineral deposits," DA MP James Lorimer said in a statement.
"We need proposals that will attract investment and create jobs so that everyone can share in the wealth of our mineral deposits," DA MP James Lorimer said in a statement.
marine1
Honorary Master
Why not tax the Taxi industry? Oh wait....... 
The_Unbeliever
Honorary Master
Why not cut fatcat allowances, and redundant aeroplanes?
Why not tax the Taxi industry? Oh wait.......
Perhaps because its not a limited natural resource that belongs to the country.
I think the DA are being hysterical on this, we are doing nothing thats not being done in many other countries including Australia, and it sure as hell beats nationalization.
marine1
Honorary Master
Limited natural resource I would agree with.
Shayd
Expert Member
I would agree to a sovereign wealth fund setup with royalties and mining tax profits that pays to education and long term infrastructure.
In principal I agree with the fund converting royalties into ordinary shares and having the corporate tax paid to the state. The this way we balance today's needs with future needs
In principal I agree with the fund converting royalties into ordinary shares and having the corporate tax paid to the state. The this way we balance today's needs with future needs
and yet many of our mines are closing down.
Natural selection is a bitch.
The industry already contributes to the country in the form of jobs and the existing payment of high taxes. Making it harder for them, which will cause further shutdowns makes absolutely no sense, especially in a country which wastes money hand over fist through corruption and incompetence.
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Well let the people plunder crappy 3rd world countries resources first. What is not used now will just go up in price in the future (especially with declining stock levels).
If they can pull it out in Australia for a profit they can do the same here, if they cant do the same here then they need to relook at their models.
Well let the people plunder crappy 3rd world countries resources first. What is not used now will just go up in price in the future (especially with declining stock levels).
If they can pull it out in Australia for a profit they can do the same here, if they cant do the same here then they need to relook at their models.
They already pay 36.89% tax. What about that dont you understand?
People will be in business for 10 billion profit just as quickly at 20 billion profit. What about that dont you understand?
So a foreign investor has 1 billion dollars to throw into a new venture. Does he choose country A where he will make 10 billion dollars, or does he choose country B where he will make 20 billion?
Oh right, he doesnt invest in south africa.
Thats fine, if he doesnt there is always someone out there who i wants to make 10 billion. Natural selection is orsm that way.
There are nearly 200 countries in the world. Do you really want to be 150 on the list?
We are the most mineraly rich country in the world... many countries dont have a tiny percentage of our resources. Sure we will find someone
We are the most mineraly rich country in the world... many countries dont have a tiny percentage of our resources. Sure we will find someone
So how much tax do you think is fair? Because clearly you think just under 40% isnt enough.
I like the Botswana model.