{"id":1076,"date":"2017-01-30T07:40:51","date_gmt":"2017-01-30T07:40:51","guid":{"rendered":"http:\/\/www.beachminerals.org\/?p=1076"},"modified":"2021-09-23T15:09:10","modified_gmt":"2021-09-23T09:39:10","slug":"mining-industry-danger-part-5","status":"publish","type":"post","link":"https:\/\/beachmineral.com\/ta\/mining-industry-danger-part-5\/","title":{"rendered":"Mining Industry is in danger \u2013 Part-5"},"content":{"rendered":"

The Corporate Income Tax rates in India are very high compared to the other major mining countries. The effective tax rate is around 34.61% for income exceeding Rs. 100 million for the domestic company and for the foreign company the rate is 43.26% (KPMG, 2015). A minimum alternative tax (MAT) is levied at 18.5% of the adjusted profit of the companies where the tax payable is less than 18.5% of their book value.\u00a0 The government has also started charging \u201ccarbon tax\u201d which would add to the percentage furthermore.<\/p>\n

Mining sector is capital intensive and utilizes specialised mine equipment that is usually imported.\u00a0 Higher import duty on mine equipment has a direct negative impact on mine projects, especially in the initial years of the mine project.\u00a0 Even the royalty rates in India are at the highest level. The rate of royalties on iron ore is 15% and that on coal is 14% which is way more than the other countries of the world .<\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 International Comparison of Corporate Tax Rates: 2015<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0Country<\/strong><\/td>\nCorporate Tax Rate<\/strong><\/td>\n<\/tr>\n
Argentina<\/strong><\/td>\n35%<\/td>\n<\/tr>\n
Australia<\/strong><\/td>\n30%<\/td>\n<\/tr>\n
Brazil<\/strong><\/td>\n34%<\/td>\n<\/tr>\n
Canada<\/strong><\/td>\n26.5%<\/td>\n<\/tr>\n
Chile<\/strong><\/td>\n22.5%<\/td>\n<\/tr>\n
China<\/strong><\/td>\n25%<\/td>\n<\/tr>\n
Germany<\/strong><\/td>\n29.65%<\/td>\n<\/tr>\n
India<\/strong><\/td>\n34.61%<\/td>\n<\/tr>\n
Indonesia<\/strong><\/td>\n25%<\/td>\n<\/tr>\n
Mexico<\/strong><\/td>\n30%<\/td>\n<\/tr>\n
Peru<\/strong><\/td>\n30%<\/td>\n<\/tr>\n
Philippines<\/strong><\/td>\n30%<\/td>\n<\/tr>\n
Russia<\/strong><\/td>\n20%<\/td>\n<\/tr>\n
South Africa<\/strong><\/td>\n28%<\/td>\n<\/tr>\n
Tanzania<\/strong><\/td>\n30%<\/td>\n<\/tr>\n
Ukraine<\/strong><\/td>\n18%<\/td>\n<\/tr>\n
United Kingdom<\/strong><\/td>\n23%<\/td>\n<\/tr>\n
United States<\/strong><\/td>\n40%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Corporate Income Tax rates in India are very high compared to the other major mining countries. The effective tax rate is around 34.61% for income exceeding Rs. 100 million for the domestic company and for the foreign company the rate is 43.26% (KPMG, 2015). A minimum alternative tax (MAT) is levied at 18.5% of … Continue reading “Mining Industry is in danger \u2013 Part-5”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,20],"tags":[39,35,79,80,37,22,82,83,42,38,88,45,91,27,93,94,34,96,97],"class_list":["post-1076","post","type-post","status-publish","format-standard","hentry","category-blog","category-news-release","tag-beach-mineral","tag-beach-mineral-scam","tag-dhanuskodi-aathithan","tag-dhayadevadas","tag-garnet","tag-illegal-mining","tag-ilmenite","tag-karunakaran-ias","tag-radiation","tag-rare-minerals","tag-rutile","tag-sandhya-ravishankar","tag-sundaram-ias","tag-thorium-scam","tag-uranium","tag-vaikundarajan","tag-victor-raja-manikam","tag-vv-mineral","tag-zircon"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"ta","enabled_languages":["en","ta"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"ta":{"title":false,"content":false,"excerpt":false}}},"acf":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/posts\/1076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/comments?post=1076"}],"version-history":[{"count":1,"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/posts\/1076\/revisions"}],"predecessor-version":[{"id":1998,"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/posts\/1076\/revisions\/1998"}],"wp:attachment":[{"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/media?parent=1076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/categories?post=1076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beachmineral.com\/ta\/wp-json\/wp\/v2\/tags?post=1076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}