OTCPK:MAUXF - Post by User
Comment by
maxamillionon Aug 18, 2013 2:22pm
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Post# 21679429
RE:One thing
RE:One thing The Company has a variety of loss carryforwards that are available to offset future taxable income in Canada and Nigeria.
For the year ended December 31, 2012 the Company recorded $10.6 million of tax benefit contributions. This represents the Company’s costs relating to the tax incentives granted to Mart’s co-venturers with respect to the petroleum operation at the Umusadege field. The payment of the tax benefit contributions will cease upon the expiry of the tax incentives period in 2014. There were no equivalent charges in 2011.
max