Looks like a positive outcome for the new Mining Taxes in Peru, and no doubt it will benefit all the Peruvian people as well, which is an absolute Win/Win:
New taxes in Peru not to affect mining investments, says SNMPE
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Lima, Sep. 21 (ANDINA). The president of Peru's National Society of Mining, Petroleum and Energy (SNMPE) Pedro Martinez noted on Wednesday that new taxes in said sector will not affect the development of investments in the country.
“The investments and other plans will continue. That is great news for Peru as the investment portfolio for the next 10 years at the beginning of 2011 was 42 billion dollars. However, now is at 50 billion dollars,” said Martinez.
SNMPE’s president told El Peruano official gazette that this is a virtuous circle which generates investments, creates more job opportunities, pays higher wages and more taxes to the State, thus creating higher welfare for the population.
On Monday the Economic, Financial, Banking, Financial Intelligence and Energy and Mines Commission approved a bill which creates the Special Tax on Mining (IEM) and the New Special Tax on Mining as well as the modifications on the mining royalty.
