N.G. Gold Co.’S Escape
p. 53 · Read in the full issue
High Taxation
From Our Own Correspondent.
WAU, August 22. goldmining companies operating in A New Guinea are fortunate when one compares their advantages to other gold mining companies in South Africa. In the latter country, goldmining leases on government lands are granted subject to the Union Government participating in the profits—in one case, 54 per cent, of working profits being absorbed in this direction, and in income tax and excess profits tax.
In New Guinea, taxation is very low, and shareholders are to be congratulated on the advantages they consequently gain in this part of the world.