Canadian Miners Paid Governments $11-Billion In Taxes And Fees In 2006
Financial Post Published: Thursday, June 19, 2008
An industry report released yesterday says the Canadian mining industry contributed almost $11-billion to the coffers of government in fiscal 2006, the most recent year to be calculated. The sum is a 50% rise over the roughly $5.5-billion paid to the federal and provincial governments by the industry in 2005 thanks in large part to soaring prices for metals around the world, according to the report from the Mining Association of Canada. There are approximately 180 active mines employing about 180,000 Canadians in the production of gold, copper, nickel, coal, potash, diamonds and oil sands among other resources, the report said. Miners paid almost $4-billion in corporate income tax and $2.33 billion in royalty fees in 2006, the report said. Another $2-billion was paid in personal income taxes. An additional $2.5-billion paid by the fabricated metals industry was included in the report, bringing the total sum paid out by the industry to just under $11-billion.