As the oil, mining and gas sectors suffer the economic consequences of the Covid-19 pandemic, extractive companies may attempt to excuse, delay or otherwise revise their contractual or legal obligations. This post provides guidance for governments of resource-dependent countries on how to prepare to safeguard their industries.
In the first part of this two-part series, NRGI senior economic analyst Thomas Lassourd shares insights from publicly available EITI datasets on payments made by mining companies to the governments of Guinea and the Democratic Republic of Congo.
NRGI hosted a discussion on the subject of enforcing fiscal discipline in Mongolia. A consultant for NRGI presented the findings of her research, entitled “Can the proposed fiscal council help improve fiscal discipline in Mongolia?” to a diverse audience of government officials, researchers, private sector executives and citizens.
In a report, Rio Tinto was accused of “illegitimately lowering” its withholding taxes paid to the government of Mongolia in relation to the Oyu Tolgoi copper mine. Rio allegedly did this by using a double tax agreement between Mongolia and the Netherlands, in addition to which it negotiated an even lower rate of withholding tax in its amended mining agreement in 2011. This piece reviews Rio’s tax arrangements.