Books Worth Reading: TAXATION OF THE EXTRACTIVE INDUSTRIES by UNITED NATIONS

TAXATION OF THE EXTRACTIVE INDUSTRIES

UNITED NATIONS

From the book's foreword:

The United Nations Handbook on Selected Issues for Taxation of the Extractive Industries by Developing Countries (the Handbook) is a response to the need, often expressed by developing countries, for clearer guidance on the policy and administrative aspects of applying taxes to enterprises, including multinational enterprises (MNEs) acting in the extractive industries and other local and international companies accessory to the business. Such guidance should not only assist policy makers and administrators in dealing with complex issues such as the quantification of the fiscal take, the costs of decommissioning, and loss of revenues derived from the indirect transfer of assets but should also assist taxpayers in their dealings with tax administrations.

The Handbook highlights some of the issues developing countries should bear in mind when negotiating new contracts for the exploration and exploitation of natural and mineral resources within their territories.

The Handbook covers the following topics in chapter order:

1. Overview;

2. Tax treaty issues;

3. Permanent establishment issues;

4. Indirect transfer of assets;

5. Transfer pricing issues;

6. The tax treatment of decommissioning;

7. The government’s fiscal take;

8. Tax aspects of negotiation and renegotiation of contracts; and

9. Value added tax.