The government has earned Rs10.013 billion from the Saindak Copper Gold Mines Project, in the Chagai district of Balochistan, in the last two years (2011-12-2012-13), said a report of the Ministry of Petroleum and Natural Resources.
According to the report, Rs 5.413 billion has been paid to the government of Balochistan as royalty and profit share.
Additionally, a sum of Rs599.235 million has been paid to the Export Processing Zone Authority as presumptive tax.
This is a form of assessing tax liability using indirect methods such as income reconstruction or by applying base-line taxation across the entire tax base.
Presumptive methods of taxation are thought to be effective in reducing tax avoidance as well as equalising the distribution of the tax burden.
Development surcharge of Rs4 billion has been paid to the Finance Division, against its investment.
Published in The Express Tribune, November 4th, 2014.
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