Newmont pays Rp 7.4 trillion taxes, royalties to government

Copper and gold miner PT Newmont Nusa Tenggara (NNT), a subsidiary of Newmont Corporation, paid a total of Rp 7.40 trillion to the Indonesian government in royalties, tax and non-tax financial obligation in 2011, the company said.

NNT President Director Martiono said the total payment comprised Rp 6.17 trillion in corporate income tax, Rp 270.9 billion in other income tax, Rp 217.5 billion in tax on dividend and employee income tax, and Rp 224.2 billion in royalty.

The total payment in 2011 rose from Rp 5.96 trillion in 2010 because part of the corporate income tax for 2010 were paid in 2011. Martiono said that between 1999 and 2011, the company had spent Rp 60.67 trillion in the forms of tax, royalty, other financial obligations and expenditure for community development.

Besides giving financial benefits to the government, Newmont has also helped create thousands of jobs. Martiono said that Newmont at present employs about 4,000 wokers. In addition, contractors and suppliers have also provided jobs for at least 3,000 people. (*)