Politics
09:28, 02-Jul-2017
Tanzania gov’t pressuring mines to renegotiate contracts after tax dodge claims
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By CGTN's Dan Ashby
Tanzania is keen on passing legislation that will force all mining, oil and gas companies to renegotiate their contracts and pay more tax.
The government says it wants the country’s natural resources to bring more benefits to its people, after accusing mining companies of stealing 48 billion US dollars in tax. But the move has been condemned by private firms who say they already pay their fair share to the public purse.
Mining giant Acacia says it has been unfairly accused of tax evasion, and that the government is overestimating its gold production by more than 12 times.
The companies warn of major repercussions if the legislation is passed, including massive jobs losses for Tanzanian miners.
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