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Corporate-Responsibility
Corporate Responsibility

Tax Transparency

First Quantum has for many years disclosed data on our tax and broader economic contributions in our Annual Report, Sustainability Report and Extractive Industries Transparency Initiative (EITI) submissions.

Our first Tax Transparency Report was published in May 2017 and presented data on our tax and economic contributions in each of our key operating jurisdictions.

First Quantum believes in promoting good tax governance, accountability and transparency through the publication of the company’s tax payments and contributions to Government’s and communities.

Taxes and royalties
Taxes and royalties are direct annual cash payments made to our host governments. Tax is paid on the income generated within the country and royalties are paid as a percentage of either the revenue or volume of the natural resource extracted and sold. The payments we make often represent a significant source of income to those countries and regions.

Creating value for society
First Quantum’s socio-economic contribution creates significant value in the countries and the communicates in which we operate. Our operations provide significant levels of direct and indirect employment and we focus on developing local skills. Our support of local procurement and local supply chains helps to create value for local communities. First Quantum also delivers sustainable benefits to local communities through education and health initiatives and development projects.

Other taxes and payments
In addition to income-based taxes, we are responsible for other, non-income based taxes, which, amongst others, may include license fees, property taxes, capital taxes, withholding taxes, export taxes, employer-related payroll taxes and other tax payments, as required by the applicable domestic tax laws.

We engage with a variety of stakeholders on a range of tax-related issues. We aim to engage respectfully and positively with tax authorities and work together to address any points of difference.

Learn more about First Quantum’s economic contributions in our most recent Tax Transparency and Contributions to Government Report and Canadian Extractive Sector Transparency Measures Act Report.