Mines take up to 15 years before paying tax
Mining companies in Namibia typically take between eight and 15 years from the start of exploration before they begin paying corporate income tax. This reflects the long lead times and high upfront costs associated with developing new mines. Chamber of Mines of Namibia chief executive Fabian Shaanika says the lengthy period is driven by years […] The post Mines take up to 15 years before paying tax appeared first on The Namibian .
Mining companies in Namibia typically take between eight and 15 years from the start of exploration before they begin paying corporate income tax.
This reflects the long lead times and high upfront costs associated with developing new mines.
Chamber of Mines of Namibia chief executive Fabian Shaanika says the lengthy period is driven by years of exploration, feasibility studies, permitting and mine development before a project reaches production and starts generating taxable profits.
