1. The 3rd annual tax summit
Tax Incentives and Challenges facing the Mining Industry in Africa
Osborne Wanyoike
Director – tax services

2. So what will I cover Introduction Stop, think…….action
Two steps forward, one back
Case studies – capital is mobile
Conclusion

3. PwC Africa Many skills, one network, serving a rising Africa
As the largest provider of professional services in Africa, we have more than 400 partners and over staff on the ground in 34 countries. In Kenya, we have over 600 professionals

4. Tax landscape – theme

5. 2017 PwC publication

8. Challenges can be summarised as….

12. Striking a balance…
Ensuring a tax policy framework that works both for Government and investor - a real challenge is that policy makers frequently do not seem to have a full grip on the overall economics of the combined effect of various fiscal costs.
Eliminating inconsistency between agreements (mining development agreements) and legislation
Dialogue on how to ensure tax stability
Striking a balance - indirect taxes – extending customs duty reliefs to sub-contractors
Direct taxes - (i) capital allowances vs tax holidays (ii) restoration costs (iii) ringfencing (iv) USD accounting
Bringing certainty with regards to transactions - indirect disposals
Clarity on Natural Resource Income and royalty on minerals

13. Conclusion – dialogue is a key success factor

14. The End