Newmont pays Rp 1.5t to govt in first semester

Copper and gold producer PT Newmont Nusa Tenggara (PTNNT) paid Rp 1.5 trillion in taxes, non-tax obligation and royalties in the first semester of the year, including Rp 544.7 billion in the first quarter paid in the fourth week of April and Rp 972.5 billion in the second quarter paid in the second week of July.

?PTNNT paid its financial obligation to the government on time and in accordance with the existing taxation regulation. Since 2003, PTNNT has consistently received tax-compliance award from the government,? Rachmat Makassau, General Manager of Social Responsibility and Government Relation at PTNNT, said in a statement.

The total Rp 1.5 trillion payment includes Rp 536.5 billion in export duty on concentrates, Rp 503 billion in production royalty, Rp 265.5 billion in corporate tax (PPh Badan-PPh 25), Rp 107.7 billion in income tax (PPh 21).

Rachmat said the government imposes 7.5 percent duty on concentrate exports based on copper, silver and gold contents. Royalty payment has increased to 4 percent for copper, 3.75 percent on gold and 3.25 percent on silver. As a result of the increase, PTNNT?s contribution to the government?s export duty revenue has increased by 300 percent.

Since 1999, PTNNT has paid US$9.4 billion in tax, non-tax obligation, royalty and expense for goods and service procurement locally and nationally and community development program. Besides, the company gives economic benefits through payment of salaries to 3,600 employees and 2,400 contractors.

Editing by Johannes Simbolon