By Ricardo Dias
Maputo (MOZTIMES) – Mozambique collected approximately US$12 million in taxes during the latest ruby auction held by Montepuez Ruby Mining (MRM) in Thailand.
The auction generated total revenue of $46.2 million, the government reported, as quoted by the state-owned newspaper “Notícias.”
The revenue comes from a 10% mining production tax (equivalent to $4.6 million) and 16% VAT (amounting to $7.3 million), according to the Ministry of Mineral Resources and Energy, through the Kimberley Process management unit for precious metals and gemstones, during the third auction held in Bangkok, Thailand.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
