Financial Times notes that the president signs of Ollanta Humala miners and investors confidence.
The Financial Times noted that statements by the President of Peru, Ollanta Humala, will give confidence to the mining sector and other investors, the rule imposing a higher tax in addition to currently being debated in Congress over windfall mining.
First rumors of a possible imposition of higher taxes, the President of the Republic, Ollanta Humala Tasso, told the Financial Times that his government will not implement more increases in taxes paid by mining companies in Peru, beyond being discussed in the legislature.
"The government will fully respect the agreements already signed, like it or not," he told the British newspaper in New York, United States, where he traveled to participate Thursday in the 66 th session of the General Assembly of United Nations.
The head of government also confirmed that his government expects about 1,000 million dollars in additional income tax (at sobregancias), which will be used primarily for infrastructure projects.
"This allows us to make people recognize that the mining sector that is able, contribute to inclusion," said the Peruvian President.
The economic environment Ollanta Humala said he was not concerned about a possible fall in prices of metals in the international market, and thus state revenues to boost social programs because the government has designed a series of measures fiscal stimulus that will help continue economic dynamism.
"If copper falls, gold rises. We have developed an entire strategic plan if a global crisis arrives earlier than expected, "he noted.
According to the Financial Times, Ollanta Humala said that natural resources are fundamental to the Peruvian economy, its contribution to Gross Domestic Product (GDP) and exports from the Andean country.
He explained that only copper and gold represent about half of Peru's exports in 2010 and added that Peru is also a producer of zinc and oil, and has huge natural gas fields.
"Minerals are the potential that God has blessed us. You just drill and find minerals "he said.
Mining companies pay marginal rates of between four and 13.12 per cent as a special charge on Mining (GEM), based on 17 stages set in accordance with their operating margins, according to the bill being debated in the executive branch Congress commented the Financial Times.
The new scheme also provides for a royalty payment of between one and 12 percent operating profit mining.
Similarly, the Executive proposed a special tax to Mining (IEM) of between two and 8.4 percent of operating profits that mining companies pay no tax stability contracts.
http://www.perumineria.com/2011/09/21/financial-times-resalta-que-el-presidente-ollanta-humala-da-senales-de-confianza-a-mineros-e-inversores/
