The department was invited to present by the Organisation for Economic Cooperation and Development (OECD) as part of its involvement in the Kazakhstan Mining Competitiveness Project.
|Date:||Thursday, 15 March 2018|
The Department of Mines, Industry Regulation and Safety (DMIRS) recently showcased Western Australia’s (WA) world-class resources sector and regulatory leadership at a workshop in Astana, Kazakhstan.
DMIRS’ Systems and Analysis Manager, Vince D’Angelo said he was invited to present by the Organisation for Economic Cooperation and Development (OECD) as part of its involvement in the Kazakhstan Mining Competitiveness Project.
“The project supports the Kazakhstan Government’s efforts to increase investment in its mining industry, and helps to align the nation’s mining policy framework with international best practices,” Mr D’Angelo said.
“As part of their mining taxation reform, the Kazakhstan Government has expressed an interest in using WA’s mining legislation as its template.
“They are keen to understand WA’s taxation mechanisms for the mineral sector, in particular our royalty system.”
Kazakhstan’s mineral taxation policies are covered separately under general tax code legislation instead of mining-specific legislation. This means its mineral revenue payments are embedded in the tax code, whereas WA’s are set in mining legislation.
By modernising its tax system, Kazakhstan hopes to become more transparent and attract additional investment, so investors can understand exactly what their financial obligations will be before they invest.
During the presentation, Mr D’Angelo provided an overview of how the Australian tax system works and detailed how DMIRS administers WA’s royalties system.
“I was able to share how WA uses technology to lodge forms and returns online and its audit process,” Mr D’Angelo said.
“I also provided an outline of some of the challenges relative to mining taxation in WA that Kazakhstan may face as they go through the reform project.”
Delivery of these in-country workshops is part of DMIRS’ ongoing program to showcase the State’s stewardship of its resource sector.