An analysis of the tax implications of prospecting expenditure incurred by junior exploration companies in South Africa
Journal of Economic and Financial Sciences
| Field | Value | |
| Title | An analysis of the tax implications of prospecting expenditure incurred by junior exploration companies in South Africa | |
| Creator | Sturdy, Joline Cronjé, Christo | |
| Description | One of the consequences of the change in the mineral policy of South Africa with the promulgation of the Mineral and Petroleum Resources Development Act 28 of 2002 was the increase in junior exploration companies. Junior exploration companies are mainly involved in prospecting activities. No definition exists for either prospecting or exploration in the Income Tax Act 58 of 1962 (Income Tax Act). The lack of research and case law on the tax treatment of prospecting expenditure by junior exploration companies may result in various interpretations for the treatment of prospecting expenditure. Through critical analysis of specific sections in the Income Tax Act, applicable case law and relevant literature, it is evident that there are different interpretations by junior exploration companies of the treatment of prospecting expenditure from an income tax perspective. The perceived challenges with interpretation of the tax treatment of prospecting expenditure by junior exploration companies create an opportunity for further research. | |
| Publisher | AOSIS | |
| Date | 2013-07-31 | |
| Identifier | 10.4102/jef.v6i2.263 | |
| Source | Journal of Economic and Financial Sciences; Vol 6, No 2 (2013); 329-346 2312-2803 1995-7076 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://jefjournal.org.za/index.php/jef/article/view/263/343
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