AngloGold Starts Paying 30% Tax Rate in Tanzania

Reuters reported that Tanzania is charging 30% corporate tax to AngloGold Ashanti (NYSE:AU) on its Gelta mine.

As quoted in the market news:

This is the first time that the mine has started paying corporate tax in Tanzania since it began commercial gold production in August 2000. Tanzania, which is Africa’s fourth-largest gold producer, previously granted a tax holiday to mining companies that exempted them from paying corporate tax until they recouped investment costs in the mines.

Click here to read the full Reuters report.