Newmont pays Rp1.3 trillion in taxes, royalties in Q1

Copper and gold miner PT Newmont Nusa Tenggara (PTNNT) paid an amount of Rp1.364 trillion (1US$ = Rp 8.618) for all financial obligations to the Government of Indonesia including taxes, non-taxes, an royalties for Q1, 2011. The payment was made in accordance with provisions of its Contract of Work.

?PTNNT always fulfills its financial obligations to the government in a timely manner and comply with all fiscal regulations. Since 2003, PTNNT always gets compliant taxpayer mention from the government,? said Arif Perdanakusumah, PTNNT Senior Manager External Relations.

This quarter?s biggest payment was Corporate Income Tax (PPh 25) of Rp974.4 billion, followed by other Income Taxes (PPh 4, 15, 23) of Rp140 billion, Tax on Interests, Dividends and Royalties (PDBR-PPh26) of Rp113.6 billion, and Employees? Personal Income Tax (PPh 21) of Rp48 billion.

Meanwhile, payment of production royalties reached Rp43.52 billion, comprising of copper production of Rp17.16 billion, gold Rp24.37 billion, and silver Rp1.99 billion.

In 2010, PTNNT has paid Rp5.761 trillion so that since 1999 until early 2011 PTNNT has paid taxes, non-taxes and royalties at total of Rp22.538 trillion to the state.

In addition to direct financial benefits to the government, PTNNT generates other economic benefits through payment of salaries to approx. 4000 employees and 3000 contractors, goods and services procurement both local and national, as well as community development programs. (godang)