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Ann: Extension of Voluntary Suspension, page-53

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JoshuaL

3,500 Posts.

973

08/11/19

14:08

Post #: 41322064
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Originally posted by 82Punter: ↑

Yep, I wasted a bit of time this morning searching the internet for any trace of the 'news' that wasn't on his twitter account. I've copied links to everything on the internet in relation to Swami's claim in the line below:
...

Oops... there was NOTHING!
Not sure where this tax debt comes from anyway as VEC hasn't made any money there as it hasn't operated the mine yet, Mongbwalu Gold Mines hasn't operated the mine yet and hasn't made any money there, heck even AngloGold Ashanti didn't operate the mine and didn't make any money from it either. So what tax can possibly be due to be paid by any owner of the mine to date?? Whilst most countries have slightly different tax regimes, the one common feature among them is the basic formula '(income - expenditure) x tax rate = tax payable'. So if income is $0 and expenditure is say $5m, then the tax payable is nil and you have carried forward losses to offset against future income.

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82Punter that is correct and it's the same in Australia you can take your tax losses across to the next time you make a profit, the debt is minuscule and owed by a director of MGM, nothing to do with VEC or A-K, anyone can take a picture if a licked gate as ”proof” and then get his worshippers to put the message out as fact,

VEC Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
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