nuclear-news

Tanzania’s battle over uranium tax

The fierce battle for $205m uranium tax, BY FLORIAN KAIJAGE 11th March 2012  As the Russian firm seeks court order  Tanzania Revenue Authority (TRA) and Russian company JSC Atomredmetzoloto (AMRZ) are in fierce legal battle over the $205.8 million (Sh330billion) that TRA demands from the company as an income tax and stamp duty emanating from thelatter’s purchase of Mkuju River Uranium mining site from Mantra
Resources of Australia in 2011.
The legal battle is before the Tax Revenue Appeals Board that begun hearing of the matter on Monday March 5, 2011 in Dar es Salaam under the chairmanship of Pentarin Kente…. The amount of money involved is staggering; this is a record amount in Africa just on income tax. It
is $196 million that equivalent to Sh320 billion, 2 percent of the country’s GDP (Gross Domestic Product); it is not a small amount by local or international standards…. http://www.ippmedia.com/frontend/index.php?l=39338

March 12, 2012 - Posted by Christina Macpherson | AFRICA, business and costs, Uranium