Google Translation:
The mining companies should pay more for onward tax transfers abroad, the rate will rise from 12.5% ??to 25%, as proposed in the latest draft of the new Mining Law.
"A tax on remittances abroad equivalent to 25% of the total" in Article 193 of the project, which was seen Page Seven.
In Point II, the proposal further specifies that "mineral exports from Bolivia whose sale value not enter a bank or financial Bolivian pay 25% of the total amount of capital exported concept".
The tax is intended to tax capital firms abroad to repatriate their headquarters and are from mining operations in the country.
That is, if the total amount of exports of a mining operator is the equivalent of a million dollars, it should give the state $ 250,000 in tax that obligation.
The mining expert Rolando Jordan said that this measure is all that away cause investments to the country.
"It is true that Bolivia has one of the lowest taxes in Latin America about the remittance of profits abroad, but should not be taken in isolation only remission, but we also must consider the Income Tax Companies (IUE ), "he said.
The optimum may be as well to raise the tax on transfers abroad, to decrease the rate of SUI (mining companies are taxed 37.5%), so that the competitiveness of Bolivia is maintained or increased in order to attract investment he specified.
With the new provision the companies most affected are San Cristobal, which has capital of Japan-and Orvana mining, San Vicente and Manquiri-operate with resources all Canadian investors.
Secretary of Mines of the Government of Potosí, Arnulfo Gutierrez, noted that at this time the State and mineral producing regions perceive good income by mining, by private operators and cooperatives, and should ensure safety.
"What the state should do is respect the concession contracts and give legal certainty, that must be consolidated in the new standard," he said.
Participation
The draft law also consolidates greater future participation in profits Comibol. "In the state association contracts that are signed after the enactment of this Act, the shares shall be agreed between the parties and in any case involving the state company will be less than 55% of the profits of private," says Article 120.
Last week, the legal adviser to the Ministry of Mines, Juan Carlos Carrasco, once confirmed approval of the new mining law, operators will be only 45% of the profits and Comibol with the remaining 55% of Under the new contract includes the standard association.
The project is discussed by a committee led by the Ministry of Mines, in which representatives of private mining, cooperative and Comibol.
These actors miners met again yesterday to agree, modify and adjust the content to be ready until April 6.
Carrasco said the previous week that the new rule is an increase of 90% and that is pending mining royalty.
However, miners actors involved in the drafting said that while there is consensus in drafting the document, agreeing the neuralgic lack of content of the law, which is the payment of taxes and royalties. At the moment, the intention is not undergo any change in the aliquots.
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