Newmont pays Rp765 billion Q3 royalty to government

(6 November 2008)--PT Newmont Nusa Tenggara (PTNNT) has fulfilled its financial obligations of Rp765.25 billion (1US$= Rp 11,000) to the Government of Indonesia (GOI) in the form of taxes, non-taxes, and royalties.

This Q3 royalty payment of more than Rp14 billion was deposited in the Finance Minister?s account on 31 Oct.

?As a contractor to the GOI, we are committed to fulfilling our financial obligations on a timely manner in accordance with the Contract of Work and other applicable regulations,? said Malik Salim, PTNNT Senior Manager for External Relations.

The largest tax payment component for the Q3 is the Corporate Income Tax (PPh 25) of Rp643 billion, Personal Income Tax (PPh 21) of Rp53 billion and royalties being the 3rd largest component. The total amount of payment of tax, non-tax and royalties PTNNT has paid in 2008 Q3 is Rp3.3trillion

In addition to direct financial benefits to the government, PTNNT?s presence brings other economic benefits through salary payment to 8,000 employees of PTNNT & contractors, goods & services procurements from local and national suppliers, and community development programs. (end of release)