The mining sector is at the nexus of important global phenomena: climate change and the push to transition to low-carbon energy, the development of new technologies affecting labour markets, and global momentum against inequality and for tax reforms. These trends are raising the importance of mining for both its mineral and financial outputs. In this context, governments need new and innovative fiscal measures to protect the public’s financial interests during the next generation of resource extraction.
The IGF partnered with the African Tax Administration Forum (ATAF) to rethink how developing countries benefit financially from their mineral resources. They launched The Future of Resource Taxation in 2020, a research project to discover how the existing system of mining taxation can be improved and identify new, innovative fiscal options for resource-rich countries to maximize the returns from their mineral wealth. The project crowdsourced and developed policy ideas from governments, civil society, academia, and industry. The end result is a handbook for policy-makers: The Future of Resource Taxation: 10 Policy Ideas to Mobilize Mining Revenues. It presents a menu of innovative fiscal measures to strengthen revenue collection in the mining sector.