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Mining taxation in Fiji: the case of Emperor Gold Mines

Grynberg, Roman; Fulcher, Peter; Dryden, Peter

Description

This paper considers the development of the mining tax regime in Fiji in light of the development of the country’s largest private sector employer, Emperor Mines Limited (EML) (employing between 650 and 800 at Vatukoula since World War II) and its principal Fiji subsidiary Emperor Gold Mining Company Limited (EGM). The paper argues that EGM and EML have been the recipients of extremely generous tax concessions and subsidies throughout the last forty years of their existence and that the company...[Show more]

dc.contributor.authorGrynberg, Roman
dc.contributor.authorFulcher, Peter
dc.contributor.authorDryden, Peter
dc.date.accessioned2002-01-31
dc.date.accessioned2004-05-19T07:57:02Z
dc.date.accessioned2011-01-05T08:36:35Z
dc.date.available2004-05-19T07:57:02Z
dc.date.available2011-01-05T08:36:35Z
dc.date.created1996
dc.identifier.urihttp://hdl.handle.net/1885/40354
dc.identifier.urihttp://digitalcollections.anu.edu.au/handle/1885/40354
dc.description.abstractThis paper considers the development of the mining tax regime in Fiji in light of the development of the country’s largest private sector employer, Emperor Mines Limited (EML) (employing between 650 and 800 at Vatukoula since World War II) and its principal Fiji subsidiary Emperor Gold Mining Company Limited (EGM). The paper argues that EGM and EML have been the recipients of extremely generous tax concessions and subsidies throughout the last forty years of their existence and that the company has, since the signing of the 1983 Vatukoula tax agreement (VTA) paid negligible amounts of company tax and minimal royalties to the government of Fiji. The paper reviews EGM and EML up until the end of 1992. In 1993 there was a significant corporate restructuring. The tax agreement is so structured that the company is unlikely to pay any corporate tax or royalties to the government until after the year 2011, for, while the agreement expires in 2004 it is possible that any mine established in that year would enjoy a seven-year tax holiday. By the normal standards of international tax agreements in the mining industry the VTA is exceptional and stands as virtually unique among that of small low and middle-income developing economies in allowing tax-free status for a gold mine.
dc.format.extent142117 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_AU
dc.subjectFiji
dc.subjectEmperor Mines Limited
dc.subjectEML
dc.subjectVatukoula
dc.subjectEmperor Gold Mining Company Limited
dc.subjectEGM
dc.subjecttax concessions
dc.subjectsubsidies
dc.subjecttax-free status
dc.subjectgold mine
dc.titleMining taxation in Fiji: the case of Emperor Gold Mines
dc.typeWorking/Technical Paper
local.description.refereedno
local.identifier.citationyear1996
local.identifier.eprintid183
local.rights.ispublishedyes
dc.date.issued1996
CollectionsANU Research Publications

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