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Mr. Jack Calder

Revenue administration clearly presents challenges to capacity. Natural resources are often found in developing economies, many of which struggle with routine clerical functions, let alone the difficult technical functions of mineral valuation and financial audit required for effective natural resource revenue administration. Multinational natural resource companies employ top lawyers, analysts, accountants, and tax specialists, some specifically tasked with reducing their tax bill. The imbalance in expertise between natural resource companies and revenue

Mr. Jack Calder

This chapter discusses governance and transparency of natural resource revenue administration , which must be considered in a broad context. Maximizing economic and social benefits from natural resource exploitation requires good governance and transparency across a wide range of government activity, not just tax administration. Natural resource companies and their host governments also need to play a part. The wider context is explained in the IMF’s Managing Natural Resource Wealth Topical Trust Fund (MNRW-TTF) program document (2010) and has references for

Mr. Jack Calder

The first step in assessing natural resource revenue tax administration in any country must be a review of its legal and policy framework: the rules that determine the tax payable by natural resource businesses (not the administrative rules, discussed separately in Chapter 4 ). For large natural resource companies those rules mostly define the nature of the administrative task. For those companies the main challenge is generally not—as it often is with smaller businesses—business account accuracy and filing and payment compliance. Instead the main task is to

Mr. Jack Calder

general). These agencies may not agree, particularly if they oppose integration of natural resource revenue administration (without which the full benefits of harmonized procedures will not be realized). There is no particular reason for natural resource companies to oppose procedural harmonization in principle, and it should be possible to demonstrate positive benefits, but they may be unenthusiastic—for example, because they have more urgent priorities, resent having to amend their own procedures and reporting systems, benefit from weakness in some existing procedures

Mr. Jack Calder

. The fiscal regime for natural resource companies is generally set out in tax legislation, and tax departments are be responsible for its administration, although there may be exceptions for minor nontax revenues. The table assumes government equity participation, generally a feature in developing economies—in this framework, the finance ministry decides the level of state participation and oversees the national resource company’s (NRC’s) tax, financial management, and accounting. The natural resource ministry determines its natural resources exploitation policy and

Mr. Jack Calder

high-value equipment and services used for natural resource operations are imported. Natural resource companies often operate under distinctive risk-sharing commercial arrangements. Transfer of ownership of interests in natural resource operations is common. There is significant government control, often associated with government equity participation. Natural resources present exceptional challenges to governance and transparency. This handbook does not seek to advise on natural resource tax policy responses to these special features but explains how