30000
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1151799
325
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19340
100000
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687
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61,8 Mio KINA rund EUR 20 Mio !
Taxation Dispute
The ongoing tax dispute with the Internal Revenue Commission of PNG has progressed a little, with the company lodging additional information. As I previously reported, an earlier court‐initiated mediation did not come to a final agreement, but has taken us closer, I believe, to a negotiated outcome.
As has been reported in previous years, the company lodged formal objections to a reassessment by the Internal Revenue Commission of BCL’s claims for losses due to the suspension of mining operations in 1989, and for depreciation of its remaining mine assets.
The company paid approximately K13 million to the IRC during the 2007 year (which is close to the claimed unpaid primary tax). A further K48.8 million was paid into court during the 2010 year under the terms of a court‐sanctioned arrangement to place the IRC in possession of funds sufficient to pay all outstanding assessments, penalties and interest claimed by the IRC. This arrangement also ensures that those funds are available for return to BCL in the event that the company’s challenges to the assessments are ultimately upheld by the courts. This money is invested and is bearing interest.
The principal and interest will be returned to the company should it prevail in the substantive tax appeal.
It is possible that further mediation will produce a settlement. If not, the company will rely upon the accounting and legal advice it has received and test the issues in court.
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| Wertung | Antworten | Thema | Verfasser | letzter Verfasser | letzter Beitrag | |
| 54 | 25.628 | Trading Bougainville Copper (ADRs) 867948 | nekro | Fuchsbau24 | 16.03.26 19:05 | |
| 1 | Government building in Arawa | Fuchsbau24 | dagobertlchen | 18.02.26 16:07 | ||
| Trading Bougainville Copper | Fuchsbau24 | 28.01.26 12:12 | ||||
| Gehts tatsächlich jetzt dann los? | Fuchsbau24 | 28.01.26 11:43 |