OTCPK:MEAOD - Post by User
Comment by
borepson Sep 07, 2012 4:30pm
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Post# 20334613
RE: RE: More BEARISH posts needed
RE: RE: More BEARISH posts needed OK! RUMOR IS :NEW PRIME MINISTER PAULINE MAROIS WILL PUT UNDER STATE CONTROL ALL THE MINING SECTOR..............................
This just silly rumor. All she wants to do is to impose additional 5% royaltis and increase tax rate to 30% of GROSS income over sertain, not specified amount, very typical approach of PQ.
Profit-based taxation in Quebec for mining companies is already considered high on a global scale, let alone in North America. A press release from The Quebec Mining Exploration Association said the provincial tax burden is 26%, which includes 16% in royalties, while the federal government taxes an additional 15% for a total of 41% on profits in the province.