[miningmx.com] – NAMIBIA will not cut Namdeb Diamond’s tax rate despite the company which is 50% owned by Anglo American, pushing for a review of the southern African country’s tax regime, said Bloomberg News.
“We can’t entertain an idea that diamonds should be taxed at the same rate as other mining companies,’ Namibia’s Finance Minister Saara Kuugongelwa-Amadhila told Bloomberg News.
“We made a conscious decision to set the tax rate at 55% because those diamonds are highly valuable and Namibians should share in the benefits,” the minister said.
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