* Plans 200-megawatt coal-fired power project
* Eyes higher revenues from gold exports
* Says has over 130 mln pounds of uranium oxide
By Fumbuka Ng’wanakilala
DODOMA, July 27 (Reuters) – Tanzania, Africa’s fourth
largest gold producer, has told mining companies operating for
more than five years to start paying a corporate tax of 30
percent, citing rising prices of precious metals at the world
market.
Tanzania’s gold export earnings rose 31 percent last year to
$1.879 billion from $1.436 billion a year before on higher world
prices for the commodity, Sospeter Muhongo, energy and minerals
minister, told parliament on Friday.
The minister said the government wants to earn higher
revenues from mining companies due to the rising gold price and
added the government had ordered audits of all large-scale gold
mines in the country to ensure they started paying corporate
taxes after recovering their costs of production.
“I am instructing all mining companies that have been in
operation for more than five years to start paying corporate tax
without any excuses,” he said.
“If they claim they are still making losses and can’t
contribute to the national economy through taxes, they should
shut down their mines and leave because minerals do not rot.”
Continued…
