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Profit shifting changes could hit mining - report

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Johannesburg – Mining companies need to keep abreast of rule changes regarding base erosion and profit shifting (Beps), Deloitte global mining tax leader James Ferguson said on Monday.

“With the global mining sector as a whole coming to terms with reduced commodity prices and diminishing prospects in China, the difficulties that may be imposed by Beps are both an unwelcome distraction and an additional layer of uncertainty for the future of the mining industry," according to a Deloitte report on Beps.

Ferguson cautioned mining companies to appraise their current corporate structures and business models, and be ready to take action where necessary.

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