Post by
fleamarket on Jan 15, 2015 9:07pm
Anyone have any insight on the highlighted?
Are we missing something that some are not??? Will shareholders be taxed on capital gains? Or the company takes the taxation on capitulation, Or everyone across the board? These are probably some of the issues why kinross had initially walked. Over taxation on everyone across the board, not just the company, but shareholders as well. Ecuadorian government MUST see how much money is at stake for the country at a needed time. If Lundin walks that will be the end to Ecuadorian exploration and tens of billions of dollars for the Local infrastructure to support and maintain environmental responsibility and not to mention loads of money to the Government.. Why would they borrow 500 million dollars in gold from goldman sachs (I believe) when you have 50 billion at your doorstep. I hope the Ecuadorian revenue service knows what they are doing and the sharks they are dealing with. Patiently awaiting more understanding of the taxation penalties that would apply to us share holders. January 08, 2015 02:00 ET | Source: Lundin Gold Inc. 1. multilang-release January 8, 2015 (Vancouver, Canada)… Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: “LUG”, Nasdaq Stockholm: “LUG”) reports that the National Assembly of Ecuador has enacted various amendments to Ecuador’s income tax laws and regulations, including the introduction of the taxation of capital gains, under the law titled “Organic Law for Production Incentives and Prevention of Tax Fraud”, which enactment became effective on December 29th, 2014. The Organic Law for Production Incentives and Prevention of Tax Fraud includes provisions for a capital gains tax on the profits derived from the direct or indirect sale of shares, ownership interests, other rights to capital representation, or other rights, that allow for exploration, exploitation, concession or similar activities by companies either domiciled or with permanent establishments in Ecuador. The Company is in the process of analyzing the potential impact of the application of the new law and its regulations on it and its shareholders. The Company and its advisors are also arranging meetings with senior members of Ecuador’s Internal Revenue Service and senior Government officials to discuss the implications of this legislation on all stakeholders. - See more at: https://globenewswire.com/news-release/2015/01/08/695784/0/en/LUNDIN-GOLD-COMMENTS-ON-RECENT-ECUADORIAN-TAX-LAW-DEVELOPMENTS.html#sthash.6nOIX1j1.dpuf
Comment by
fleamarket on Jan 15, 2015 9:16pm
it didn't highlight sorry guys