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Barrick Gold wants tax refund from Tanzania Government!

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Jasusi, Apr 26, 2011.

  1. J

    Jasusi JF-Expert Member

    #1
    Apr 26, 2011
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    AngloGold, African Barrick in Talks on Tanzanian Tax Refunds

    2011-04-26
    By David Malingha Doya


    April 26 (Bloomberg) -- AngloGold Ashanti Ltd., African Barrick Gold Ltd. and other miners of the precious metal are in "advanced" talks with Tanzania's government about a $273.9 million tax refund, the Chamber of Minerals and Energy said.

    Tanzanian tax policy for the mining industry provides for a refund of duties on fuel used to generate electricity to power gold mines, as well as value-added tax, or VAT. Miners are claiming about 60 percent of the total amount in refundable fuel duties and 40 percent from VAT, said Godvictor Lyimo, chairman of the finance committee at the chamber.

    "Engagements with government to resolve the matter are at
    advanced stages," Lyimo said in an interview on April 20 from Dar es Salaam, Tanzania's commercial capital. "Government has shown good will to resolve it."

    Tanzania is Africa's fourth-biggest gold producer, according to data on the U.S. Geological Survey's website. South Africa, Ghana and Mali are the largest producers on the continent. Exports of the metal from Tanzania jumped 22 percent to $1.6 billion in the year through February, the Bank of Tanzania said last month.


    Mining companies in Tanzania say the taxes owed to them
    have accumulated since 2002. The Tanzania Revenue Authority confirmed negotiations are continuing.

    "We are in talks with the miners, but cannot give you figures of payments from our taxpayers," Protas Mmanda, the authority's director for taxpayer education, said in a phone interview.


    Refund Claims


    AngloGold, the world's third-biggest gold miner, is claiming $62 million in refundable fuel duties and $49 million in VAT from Tanzania's government, according to its 2010 annual report. African Barrick, which operates four mines in
    the country, is owed $121 million, its annual report shows.

    "ABG has been actively involved in discussions with the Tanzanian government and the Tanzanian Revenue Authority to resolve the status of fuel exercise levies and VAT refunds for its operations," African Barrick said. "These issues have been outstanding for some time and were further complicated by amendments made to certain tax laws."


    In 2009, the Tanzanian government amended its tax laws requiring miners to pay VAT on all purchases. Previously, miners where allowed VAT relief because of the volume of their orders. Government then had to refund the bills after every 30 days. The state also relieved gold miners of duties on fuel for generating power.


    Fuel Consumption


    The industry consumes about 13.5 million liters (3.57million gallons) of fuel per month, while gold-mining companies estimate fuel accounts for 30 percent of their operating cost, Lyimo said.


    "Our position at the chamber is that government should move fast in resolving the matter because holding that money is constraining the companies' cash flows," he said. "That amount of money can start a new mine."


    Tanzanian President Jakaya Kikwete said last month that the country's mining operations expanded at an average rate of 12 percent over the past decade, making it the country's fastest-growing industry. Mining accounts for one-third of Tanzania's foreign-exchange earnings and generates 2.3 percent of its gross domestic product, he said.


    --Editors: Paul Richardson, Alastair Reed.

    To contact the reporter on this story:
    David Malingha Doya in Dar es Salaam via Nairobi at
    +254-20-313-440 or pmrichardson@bloomberg.net.
     
  2. Captain Phillip

    Captain Phillip JF-Expert Member

    #2
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    My God haa madudu bado yanaendelea tu pamoja na mapendekezo ya ripo ti zoote hizii!!Tumezwa kabisa kama alivyotabiri Mwalimu
     
  3. J

    Jasusi JF-Expert Member

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    Yaani, we are paying them more than they put in the treasury.
     
  4. G

    Gad ONEYA JF-Expert Member

    #4
    Apr 26, 2011
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    Bado madudu mengi zaidi! Same same players are there!
     
  5. Maverick

    Maverick JF-Expert Member

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    Apr 26, 2011
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    Duh! Haiwezekani! Nahisi tuna tatizo kubwa kwenye mikataba yetu na hawa wawekezaji
     
  6. Wacha1

    Wacha1 JF-Expert Member

    #6
    Apr 26, 2011
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    Kama hatutamuondoa Kikwete na mafisadi wenzake tutaendelea kulia na kusaga meno khe khe kheeeeeeeeeee huko ndiko alikojaza share zake na familia yake then mnauliza Riz anapata wapi mpunga? Hiyo ni mbinu yake lazima mmlipe hadi chozi la damu liwatoke!


    Hivyo ndivyo anavyowashughulikia mafisadi khe khe kheeeeeeeeeeeeeee.
     
  7. N

    Nonda JF-Expert Member

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    Apr 26, 2011
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    yaani sielewi kitu hapa!
    Inasemwa kuwa hawa jamaa wanatupatia 3% tu...wao wanachukua 97%...Sasa kama hiyo ndio hesabu sahihi....yaani hizo 60% na 40 % za gaharma wanazodai ....TZ,...Hili kweli ni shamba la bibi.Ndio sababu wanasema Tanganyika haipo!Na watanganyika hawapo!

    Kuna ahadi za maisha bora kwa kila mtanzania, pia kugeuza baadhi ya mikoa kuwa Dubai na Califonia.....Hela zitatoka wapi kama zote zinatumika kulipia mashangingi, RITS, DOWANS....
    Ajabu Mkulu anaenda na bakuli kuomba ili tulipe makampuni yanayotuibia.
     
  8. Khakha

    Khakha JF-Expert Member

    #8
    Apr 26, 2011
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    Ndiooooooooo from the CCM MPS now is paying. TZ is shamba la bibi bana, madini yetu and then tunawalipa mabilioni yote haya??? Nakumbukwa kipengele hichi cha mambo ya kodi kilipigiwa kelele bungeni, lkn ndo hivyo tena, ndiooooo. kikapita
     
  9. BONGOLALA

    BONGOLALA JF-Expert Member

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    Mama muuza vitumbua anavyonyanyaswa na mgambo wa jiji, mtaka ushuru wa soko au genge nae anavyomnyanyasa mama. Sipati picha hawa watu, madini yetu wachukue bado pesa tuwarejeshee au kuwapa?
    Maana gharama za mafuta huenda wame over price.

    Jamani enough is enough, we have to take action by using our hands.
     
  10. Chamoto

    Chamoto JF-Expert Member

    #10
    Apr 26, 2011
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    What's wrong with these people, nobody gives a dang about our country. They wanna tax return? Gimme a break! For what they've been paying to the Tanzania Government? These leaders suck big time, I mean, how can they give us 3% and take all our wealth and on top of that they want to get a tax return.

    Jasusi thanks for this info but it made me angry.
     
  11. Anfaal

    Anfaal JF-Expert Member

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    Apr 26, 2011
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    Hizo pesa tunazodaiwa toka 2002 ni takribani 400 billion.

    Hivi sisi tunakusanya kiasi gani?

    Kwa nini kiasi kimefika hapo kilipo?

    Hao jamaa wanalipa kodi zote? Hawakwepi hata kidogo?

    Kwa nini sasa hivi wameamend waanze kulipa hiyo VAT na si tokea 2002 walivyokuwa wanapewa exemptions?

    Kwanini haya mambo ndio yanakuwa wazi leo?

    Kwanini walikuwa wanapewa VAT refund kwenye fuel na tax exemption wakati watanzania nao wanahitaji huo umeme hawapewi refund wakitumia majenereta yao?

    Madini yametusaidia nini mpaka leo?

    Ili watu waqualify kwahiyo refund, walikuwa wanahitajika wawe wawekezaji wageni tu au hata wenyeji?

    Tusingewapa refund nini kingetoa?


    Note: Gold sasa hivi inakuwa bei yake imevunja rekodi soko la dunia na inahitajika saana na huenda bei ikaendelea kuongezeka kila siku maana ni safe heaven kwa weak dollar.

    Ongezeko hilo Tanzania inanufaika nalo?

    Mbona pesa yake inazidi kudumaa??
     
  12. pascaldaudi

    pascaldaudi JF-Expert Member

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    Kisheria hakuna jinsi, kama walikosea kujifanya wanawavutia wawekezaji na wakakubaliana kuwa fuel consumption in generating electricity iwe refunded, hapo hakuna jinsi hiyo pesa italipwa, na ninawashauri wana JF tulizeni munkali katika hili, ngoma ilishachezwa cha muhimu in future mie sifahamu hiyo mikataba inasemaje juu ya hilo. Mwenye kubeba lawama ni yule aliyesign mkataba kukubaliana hiyo 3%TZG na 97%WAZUNGU na hizo incentive zingine.
     
  13. TIMING

    TIMING JF-Expert Member

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    Apr 26, 2011
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    Tax return is a very good practice, BUT I DONT THINK IT IS APPROPRIATE FOR THESE WANYONYAJI...

    nahisi tumbo linakata aisee
     
  14. Revolutionary

    Revolutionary JF-Expert Member

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    Apr 26, 2011
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    Huu wote ni mchezo mchafu tu wa serikali, kama ile ya kuvunja mikataba ya wakandarasi kwa makusudi ili mkandarasi aishitaki serikali in turn serikali inatoa hela watu wanagawana!
     
  15. babukijana

    babukijana JF-Expert Member

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    Apr 27, 2011
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    unaweza kupiga yowe hakyanani hii serikali imejua kukamua hiyo nchi duh:A S 39::frusty:
     
  16. EMT

    EMT JF-Expert Member

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    Apr 27, 2011
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    Bila tax returns watu wetu watakula wapi. Lazima kuwe na some means za kupata 10%
     
  17. BAK

    BAK JF-Expert Member

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    Wizi sasa umekufuru! Yote haya yanasababishwa ba viongozi wapumbavu ambao wanaingamiza nchi yetu mchana kweupe!! Hawa Barrick kwa kuchukua madini yetu bure kabisa nao wapo tayari kuongeza mrahaba wa 3% toka walipoanza kuchimba madini yetu hadi sasa? Je, wapo tayari kuilipa Tanzania baadhi ya faida kubwa waliyopata tangu waingie nchini wakati bei ya dhahabu ilikuwa $260 na sasa imefikia zaidi ya $1,500. Nashangaa kusikia hata Serikali imekubali kukaa nao chini eti kuwalipa refund ya $273.9 million! Hawa wanaosaini hii mikataba ni wendawazimu kabisa.
     
  18. Mtoboasiri

    Mtoboasiri JF-Expert Member

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    Shame on you CCM.
    Angetokea mtu leo akasema twende porini nitakuwa wa kwanza.
     
  19. J

    Jasusi JF-Expert Member

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    Apr 27, 2011
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    Pascaldaudi,
    Yule aliyesaini mkataba nina hakika anazo shares kwenye migodi ya Barrick, ndiyo maana hasumbuliwi na ripoti kama hizi. Ni kweli kisheria hakuna jinsi, unless tuwe na regime change, regime mpya ibatilishe mikataba yote kwa justification ya kwamba ilisainiwa kifisadi. Otherwise tutabaki historia tu kuwa once upon a time Tanzania was the 3rd world producer of gold, and we have nothing to show for it. Have you ever wondered why a person like Riz1 anaitwa new billionaire? Are there shortcuts for getting rich in Tanzania these days?
     
  20. nyumba kubwa

    nyumba kubwa JF-Expert Member

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    Ni kweli hakuna haja ya kuwa na jazba. Tulisaini mikataba, lets keep our promises maana kama mjuavyo mambo ya the race to the bottom haya. Wa kutandikwa viboko ni hao waliosaini mikataba kwa niaba ya Watanzania. Unajua nchi za Africa zinashindana kuwa the cheapest place for investors. Na nachoona hapa ni mambo ya prisoner's dilema. Nikiwawekea ngumu wawekezaje basi watahamia Ghana, na Ghana nae ana feel the same. Anayefaidika ni Investor. We need to solve that in future contracts.
     
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