October 10, 2024. From September 30 to October 2, the conference entitled “The Future of Natural Resource Taxation in Latin America and the Caribbean: Optimizing Mining Revenues during the Energy Transition” was held in Lima, Peru. The event was sponsored by the Inter-American Development Bank (IDB), the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) and the Government of Peru, and brought together approximately 130 participants, including government representatives from Latin America, the Caribbean and Africa, as well as various organizations.

CIAT moderated the panel discussion of Session 8, focused on strengthening tax administration in the mining sector. During this session, diagnostic tools, relationship mechanisms between tax administrations and mining companies, compliance control tools, and best practices in dispute prevention were discussed. The panel was composed of representatives of the SII of Chile, SUNAT of Peru and an international expert. Among the main conclusions were the following:

• The opportunity to use the MINETAX tool, developed by the IDB to evaluate the processes, procedures and systems involved in tax compliance management and risk mitigation in the extractive industries.

• The importance of adopting a risk-based management approach as a basis for compliance control and preventive measures.

• The need to develop and implement cooperative compliance initiatives based on justified trust.

• The usefulness of preparing and publishing catalogs of potentially harmful tax schemes, in order to generate certainty regarding compliance with tax obligations.

• The challenge of fostering horizontal cooperation between government agencies in charge of controlling the mining sector, in order to generate control synergies.

The CIAT Executive Secretariat thanks the organizers for this opportunity and congratulates them on the success of the Conference.