Turtlefoam -- taxes

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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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no_bear

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Turtlefoam -- taxes

in response to

Re: is this part about tomorrow true? Taken from yahoo board.

turtlefoam

posted on Nov 26, 2008 05:16AM

Under the MOA we pay 3% plus 3% (if gold over 450) of our gross revenues.

Then we pay corporate income taxes on our net income, and I believe that the current rate is 34% (fairly standard rate). We, of course, have large loss carryforwards for all of our social spending so our effective tax rate will be lower for a while.