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The royalty tax is an indirect tax, and has been historically the most important mineral tax. [1] When the production starts, the tax is due. That generates up-front revenues for the government. A different approach of the royalty tax is, to impose it as a factor payment for extraction of minerals. [4]
A landowner with petroleum or mineral rights to their property may license those rights to another party. In exchange for allowing the other party to extract the resources, the landowner receives either a resource rent, or a "royalty payment" based on the value of the resources sold. When a government owns the resource, the transaction often ...
Mineral rights can be separate from property ownership (see Split estate). Mineral rights can refer to sedentary minerals that do not move below the Earth's surface or fluid minerals such as oil or natural gas. [1] There are three major types of mineral property: unified estate, severed or split estate, and fractional ownership of minerals. [1]
Net Smelter Return (NSR) is the net revenue that the owner of a mining property receives from the sale of the mine's metal/non metal products less transportation and refining costs. As a royalty it refers to the fraction of net smelter return that a mine operator is obligated to pay the owner of the royalty agreement. The royalty is paid in ...
The article Tanzanian Royalty Granted Mineral Rights and Mining License at Kigosi originally appeared on Fool.com. Try any of our Foolish newsletter services free for 30 days .
The oil depletion allowance in American (US) tax law is a tax break claimable by anyone with an economic interest in a mineral deposit or standing timber. [citation needed] The principle is that the asset is a capital investment that is a wasting asset, and therefore depreciation can reasonably be offset (effectively as a capital loss) against income.
The broad form deed is based on the premise of severing the surface and mineral rights of property. The precedence of this idea comes from English legal theory. [2] In this theory the King retained rights to various minerals on landowners estates for the purposes of maintaining the operations of the country and as such the King had authority to mine for those minerals. [2]
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