Mineral and Petroleum Resources Royalty Act, 2008 (Act No. 28 of 2008)4. Royalty formulae |
| (1) | The percentage mentioned in section 3(1) is— |
0.5 + [earnings before interest and taxes/(gross sales in respect of refined mineral resources x 12.5)] x 100.
| (1A) | The percentage mentioned in section 3(1A) is— |
2 + [earnings before interest and taxes/(gross sales in respect of refined mineral resources × 12.5)] × 100.
[Subsection (1A) inserted by section 55(1)(a) of the Taxation Laws Amendment Act, 2023 (Act No. 17 of 2023), Notice No. 4226, GG49894, dated 22 December 2023 - comes into operation on 1 January 2024 and applies in respect of years of assessment commencing on or after that date (section 55(2))]
| (2) | The percentage mentioned in section 3(2) is— |
0.5 + [earnings before interest and taxes/(gross sales in respect of unrefined mineral resources x 9)] x 100.
| (3) |
| (a) | The percentage determined in terms of subsections (1) and (1A) must not exceed 5 per cent. |
| (b) | The percentage determined in terms of subsection (2) must not exceed 7 per cent. |
[Subsection (3)(a) substituted by section 55(1)(b) of the Taxation Laws Amendment Act, 2023 (Act No. 17 of 2023), Notice No. 4226, GG49894, dated 22 December 2023 - comes into operation on 1 January 2024 and applies in respect of years of assessment commencing on or after that date (section 55(2))]