GOLD MINING: Secret contract…Govt. /Aurora tied to secrecy + Massive Concessions

An aerial view of the Aurora Gold Mines operation

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  • brandli62  On 05/25/2021 at 4:16 pm

    “The company also enjoys a wide range of waivers – under the provisions in the contract, is entitled to import into the country or purchase domestically, free of import duties, Value Added Tax and any other direct or indirect taxes on all equipment, supplies and materials for the project. [……] Additionally, the company shall also be entitled to import free of customs duties, VAT and other direct or indirect taxes on necessary personal items, including electronic and household effects.”

    These type of contracts have to be a thing of the past. How does the Guyanese government want to generate any revenue, if the natural resource mining companies are essential exempt of any taxes? There should be strict principle that everybody, whether natural persons or legal entities, have to pay taxes and VAT. Exemption for companies should only be granted for a limited period, for example for the first five years, until the operations are set in place.

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