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3 years ago
Peru's Humala proposes new tax stability contract for big miners
June 19, 2014 / 8:35 PM / 3 years ago

Peru's Humala proposes new tax stability contract for big miners

1 Min Read

LIMA, June 19 (Reuters) - Peru's President Ollanta Humala proposed a new contract for mining companies on Thursday that would lock in tax rates for 15 years on investments of at least $500 million, legislation showed.

The proposal is part of a package of reforms Humala is asking Congress to pass urgently to boost private investment as the Andean country's economy slows.

Other modifications include broadening existing tax stability contracts to include additional investments. (Reporting by Marco Aquino; Editing by James Dalgleish)

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