Mexican senate approves 7.5% mining tax
Nov 07, 2013 | 08:59 AM
| Rodrigo Alonso
MEXICO CITY The Mexican senate has approved a 7.5-percent tax on mining firms earnings before interest, taxes, depreciation and amortization (Ebitda) as part of a wider package of tax reforms.
There is an additional 0.5-percent charge on sales of gold, silver and platinum, according to the senate.
The new tax, which will introduce royalty payments for the first time in Mexicos history, will come into effect Jan. 1, 2014.....
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