Congressman Jorge Luis Flores Ancachi, from the bench popular action, has presented a bill to establish an equitable taxation of mining activity. He points out that the purpose of the proposal is to increase the tax burden of the mining sector, whose profitability has been revealed by taking advantage of the high international prices of minerals.
Bill No. 4429 proposes to modify the cumulative progressive scale of the Mining Royalty Law and the Law that creates the Special Tax on Mining, as well as the Special Tax on Mining. In this way, the maximum rates would rise from 12% to 30%, from 8% to 12% and from 13% to 34%, respectively.
“The mining sector continues to be the main engine of sustained economic growth in the State, whose profits represent the highest percentage of collection in the directory of main national taxpayers. In this sense, the high price of metals in the world makes it necessary for the sustained growth of this sector to be inclusive in helping to reduce the social gaps in the country,” the document stated.
The legislative proposal was presented on March 8, 2023 and must still go through the evaluation of the congressional commissions before reaching the plenary session for debate and voting.
Source: Larepublica
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