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United Nations Handbook on Selected Issues for Taxation of the Extractive Industries by Developing Countries

image of United Nations Handbook on Selected Issues for Taxation of the Extractive Industries by Developing Countries

The United Nations Handbook on Selected Issues for Taxation of the Extractive Industries by Developing Countries gives guidance to developing countries on key taxation issues during the life-cycle of an investment in the extractive industries, whether it be oil and gas or mining. The Handbook considers the options available to countries in this area, and their likely consequences. It addresses the balance needed to fight tax evasion and avoidance, while still having an attractive investment climate.

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Value added tax

In the tax structure surrounding investment in the oil, gas and mining sectors, not enough systematic attention has been paid to the role of broad-based consumption taxes and their impact on the extractives industries. The value added tax (VAT) also commonly referred to as the goods and services tax (GST) is the broad-based consumption tax of choice in more than 160 countries worldwide, including those countries with large extractive industries. Ideally, VAT should not operate differently for extractive industries as compared to any other industry. Developing countries with limited administrative capacity may however experience challenges in following this ideal, and may consider or have already implemented, alternative policy or administrative measures.

English

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