Windfall profit tax in Mongolia

-- When the windfall profits tax was passed through parliament on May 12, putting a 68 percent tax on gold and copper sold above set prices, it was reported that four gold miners immediately came near to stop operations. There were reports in the foreign media that Mongolia may be closing the door on miners. An interim council of mining companies has been set up in response to the windfall profits tax, which has published material in a Mongolian newspaper saying, “This is like in Mozambique, which is taking back its gold mines. It is a huge tragedy, imposing such a high tax on private companies; it is unconstitutional, like robbery.” --
Source: The Mongol Messenger

The outrage! How dare they compare the home of the incpmparable Tuvan throat singers to the nation that is below Malawi and above South Africa? Perhaps the high taxes will cause the people to understand that 68% is too high to be charged for four gold miners. This is sure to cause a huge uproar in Ulan Baator's Ministry of Taxation.

MPs need a sanity check

Members of Parliament in the Tanzanian National Assembly (NA) asked the government to control the prices which have been rising sharply of late, reports the venerable Daily News. This is of course a diversionary tactic employed by the typcial MP in any country - asking when they should be doing. If they had done their jobs well, Dr. Abdallah Kigodah would not have been forced to eat humble pie in the last session of the NA. After all, isn't this the same government that was commended by the Irish diginitaries for their impressive work in improvement of the City of Dar-es-Salaam and empowerment of the people through medium-scale enterprises (SME)? Still, according to insider sources, following the liberalisation of the 1990s, banks pay about 2.5% interest while borrowers are charged around 15.2% of interest, a difference of around 21.2%.

This is outrageous! Will the fair people of Tanzania let the government get away with this? Hah! See you at the polls, Mr. Mgana Msimbai (Iramba East-CCM)!