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IMF Told Peru Govt To Raise Mining Taxes Up To 4 Ppts: Franke

PERU
  • This is broadly in line with reports over the weekend where Peru's finance minister Pedro Francke said that the government wants to increase mining sector taxes by 3 to 4 percentage points, adding that an International Monetary Fund (IMF) study had put the sector's current tax burden at 41.7%. (Mining Weekly)
  • The remarks, which came in an interview with a domestic broadcaster on Sunday night, marked the first time that Francke disclosed some of the IMF study's findings along with details of exactly how much the government wants to raise taxes on miners.
    • The mining industry has opposed the plan, saying they pay enough taxes already and that local governments fail to spend all the tax funds they already receive.
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