Tax Credits Ease Burden for South African Miners

Reuters reported that gold miners in South Africa are helping first quarter earnings by using tax credits.

As quoted in the market news:

Reflecting a change in the formula used to tax gold mining companies in South Africa, the credits have hidden the impact of falling production related to a government safety drive and a lower rand gold price on the bottom line of companies whose earnings have surprised on the upside.

Click here to read the full Reuters report.