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Advisory body seeks ‘ideal tax’ in proposed India minerals policy

By:  
Creamer Media Correspondent
 
LEGISLATIVE ENVIRONMENT
The Indian government’s apex policy advisory body has advocated that the new National Mineral Policy (NMP) “define an ideal taxation system” for the mining sector and explore the possibility of merging current multiple levies into a globally competitive tax regime. The National Institute for Transformation of India (NITI) Aayog, in its submission to the committee entrusted with preparing the draft NMP, has said that the ultimate tax burden on mining operations in India averaged about 60% of total revenues, against a global average of 40%.
 
 
 
 
 

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