Freeport pays $1.8b to government in 2007

Copper and gold miner PT Freeport Indonesia (PTFI) paid US$1.8 billion in financial obligations to the government from January to December 2007, higher than the 2006 payment of $1.6 billion

The financial obligation comprised $1.4 billion in corporate income tax, employee income tax, regional taxes and other taxes and levies, $164 million in royalties, and $216 million in dividends, PTFI said in a statement on Monday.

The financial obligations payable by the firm are set out in the Contract of Work signed by the firm and the government.

From 1992 through 2007, PTFI paid a total of $6.9 billion to the government, consiting of $5.5 billion in corporate income tax, employee income tax, regional taxes, and other taxes and levies, $731 million in royalties, and $654 million in dividends. (denny)