GREY:CPYCF - Post by User
Post by
coalbadon Jun 28, 2012 3:02pm
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Post# 20065416
Raven Coal mineral tax flip flop
Raven Coal mineral tax flip flop As I had mentioned in an earlier posting, Compliance had previously stated that no mineral tax on the Raven coal would be paid out of net profits because it was a privately owned resource. This has been touted by some as a bonus in that this so called "fee simple" ownership is very hard to acquire and the company spent considerable money ensuring freehold ownership that gives them over-riding surface rights and they would pay not mineral tax saving 13% of all net profits.
However now CEC is stating that " coporate income tax, MINERAL REVENUE TAX and property tax will be paid to the provincial, federal and local governments. This latest position on the mineral tax issue, is in my opinion inconsistent and contradictory to their earier statements on the mineral tax issue.
Why the apparent flip flop by CEC regarding the mineral tax issue on the Raven coal?