Tuesday, 9th January 2007 (3059 views)

The Bolivian government is to consult mining companies over a proposed tax rise ahead of the announcement of new mining policies at the end of this month.

According to La Razon the country's mining minister, Jose Guillermo Dalence, is planning to raise the taxes paid by mining companies operating in Bolivia by some 600 per cent this year.

Speaking to the newspaper he said that if Bolivia wants to export another $1 billion worth of gold and other minerals in 2007, as it did in 2006, then the tax revenue the government receives must be much higher.

Indeed he said it must be raised from the $45 million currently received to at least $300 million. This would represent a six-fold tax increase for miners.

Following the minister's comments to La Razon a spokeswoman assured that the government would consult mining companies operating in Bolivia before implementing any tax hikes.

"It's not about implementing a tax hike unilaterally according to the government," she said. "It's about achieving consensus with the trade unions."

 

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