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March 27, 2009
New 100% junior mining tax write-off, second wave of BEE may be harder, Pamodzi trying to avoid full liquidation
South African Finance Minister Trevor Manuel's July 1 tax-break introduction for investment in support of junior mining is seen as an attempt to create a new class of investor that is "generously incentivised" to support the bottom end of the junior mining scale.
Read on page 11 of this edition of Mining Weekly of the 100% tax write-offs against income, but also of the view that Manuel has chosen to be "quite restrictive". The incentive is for the creation of venture-capital funds that focus their investment on small companies, with a slightly different set of criteria for junior mining companies.
Posted by StaffWriter at March 27, 2009 6:59 AM