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Article

23 Sep 2014

Author:
Reuters

Lonmin denies tax avoidance claims

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… Lonmin, the world's third-largest platinum producer, on Tuesday denied reports that it has avoided taxes by shifting funds from its South African operations abroad. Lonmin dismissed as “false and mischievous” allegations that it has transferred funds out of the country so that they would not be used to meet miners' wage demands, social labour commitments, or be included in taxable income. “Lonmin pays tax fully and properly in all jurisdictions in which it operates,” the South African mining company said. Tuesday's statement follows an article published last week by the Mail and Guardian newspaper, and public comments by South Africa's Alternative Information and Development Centre (AIDC), which has called on South Africa's Revenue Service to investigate Lonmin's financial operations…

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