Newmont pays Rp1.4 trillion in taxes, royalties in Q3

Copper and gold miner PT Newmont Nusa Tenggara (PTNNT) paid an amount of Rp 1.43 trillion (1US$ = Rp 8,925) in third quarter of 2010, higher by Rp 87.5 billion compared to the same period of last year, to fulfill its financial obligations to the government in the form of taxes, non-taxes and royalties.

"As a contractor to the GOI, we are at all times committed to fulfilling our financial obligations in a timely manner in accordance with the Contract of Work and other applicable regulations," Arif Perdanakusumah, PTNNT's senior manager external relations, said.

The largest payments include corporate income tax which amounted Rp 984 billion in the third quarter of the year, compared Rp 576 billion in the third quarter of last year, followed by interest, dividend, and royalty payments amounting Rp 103.5 billion, as against Rp 9.3 billion in the same period of last year.

Other taxes rose to Rp 127 billion, from of Rp 4.6 billion, and personal income tax reached Rp 75.7 billion, up from Rp 45 billion.

Until the third quaraer of 2010, the firm vhas paid the government a total of Rp 4.3 trillion in taxes and royalties. In 2009, the firm's taxes and royaties payment amounted to Rp 3.9 trillion. (bernard)