- With more stringent regulation and an increasingly complex tax environment comes a need for miners to communicate a clearer message to their stakeholders
- Key trends highlighted include communication challenges, disruptive technologies, a continued focus on transparency, and responding to new policies and regulations
With the global thrust toward more-stringent transparency regulations, mining companies must do more to garner the public’s support in the countries in which they operate. This is according to Deloitte Touche Tohmatsu Limited (Deloitte Global)’s report released today, The future of tax in mining: the evolving global landscape.
“Mining companies have arguably led the way in reporting their tax payments and other economic contributions to countries long before such disclosures were mandatory. But despite transparency efforts and the industry’s significant contribution to the world’s economy, the industry often struggles with a negative public perception,” said James Ferguson, Deloitte Global Mining Tax Leader. “Ultimately, mining companies have to be proactive in convincing the people in the countries in which they operate that they are significantly contributing to the economy. This means finding ways to distil their responses to often complex tax and disclosure rules into simple, understandable statements.”