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INCOME TAXES:
 6 Months Ended
Jun. 30, 2023
INCOME TAXES:  
INCOME TAXES:

NOTE 4 — INCOME TAXES:

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The income tax provision and the effective income tax rate for the first six months of 2023 and 2022 consisted of (in millions):

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​

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​

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2023

    

2022

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Statutory income tax provision

​

$

649.2

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$

752.9

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Peruvian royalty

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18.7

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26.5

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Mexican royalty

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72.3

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87.4

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Peruvian special mining tax

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34.7

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41.7

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Total income tax provision

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$

774.9

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$

908.5

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​

​

​

​

​

​

​

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Effective income tax rate

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36.0

%

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42.6

%

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These provisions include income taxes for Peru, Mexico and the United States. The Mexican royalty, the Peruvian royalty and the Peruvian special mining tax are included in the income tax provision. The decrease in the effective income tax rate in 2023 compared to the same period in 2022 was primarily attributable to additional tax expense recorded in 2022 for uncertain tax positions in the Peruvian jurisdiction.

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Peruvian royalty and special mining tax: The Company has accrued $53.4 million and $68.2 million of royalty charge and special mining tax as part of the income tax provision for the first six months of 2023 and 2022, respectively.

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Mexican mining royalty: The Company has accrued $72.3 million and $87.4 million of royalty taxes as part of the income tax provision for the first six months of 2023 and 2022, respectively.

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Accounting for uncertainty in income taxes: In the first six months of 2023, the Company recorded a receivable, current liability and non-current liability for the Peruvian jurisdiction that increased the tax expense by approximately $13.4 million. The Company’s current assets and current liability for uncertain tax positions constitute a net liability of $26.8 million and represent anticipated cash refunds or payments within 12 months. In the first six months of 2023, the Mexican jurisdiction recorded a non-current liability that increased the tax expense by approximately $13.8 million.