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Tax situation (Tables)

12 Months Ended

Dec. 31, 2022

Tax situation

Schedule of income tax years for review by tax authorities

​

​	​	​
​		Years open to review by the
Entity		Tax Authorities
​	​	​
Compañía de Minas Buenaventura S.A.A.		2018-2022
Compañía Minera Condesa S.A.		2017-2019,2021,2022
Compañía Minera Colquirrumi S.A.		2017-2022
Consorcio Energético de Huancavelica S.A.		2017-2022
Contacto Corredores de Seguros S.A.		2016-2022
El Molle Verde S.A.C.		2017-2022
Empresa de Generación Huanza S.A.		2017-2022
Inversiones Colquijirca S.A.		2017-2022
Minera La Zanja S.R.L.		2019-2022
Sociedad Minera El Brocal S.A.A.		2017-2022
S.M.R.L. Chaupiloma Dos de Cajamarca		2017-2022
Procesadora Industrial Río Seco S. A.		2017-2019,2021,2022
Apu Coropuna S.R.L.		2017-2022
Cerro Hablador S. A. C.		2017-2022
Minera Azola S. R. L.		2017-2022

Schedule of other assessments

​

​	​	​	​	​	​	​
​		​		Penalty and		​
Year	​	Taxes	​	interest	​	Total
​	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​
2003 - 2005		8,684	​	39,366	​	48,050
2006		10,840	​	51,955	​	62,795
2007		11,579	​	22,102	​	33,681
2008		16,906	​	16,923	​	33,829
2009		56,000	​	51,604	​	107,604
2010		53,566	​	125,047	​	178,613
2011		40,802	​	66,506	​	107,308
2012		869	​	6,917	​	7,786
2013		48,402	​	65,849	​	114,251
2014		5,434	​	724	​	6,158
2015		2,986	​	23,205	​	26,191
2016	​	60,041	​	3,268	​	63,309
2017		4,815	​	2,920	​	7,735
​	​	320,924	​	476,386	​	797,310

Sociedad Minera Cerro Verde S.A.A

Tax situation

Schedule of types of temporary differences, unused tax losses and unused tax credits.

​

​	​	​	​	​	​	​
​		December 31, 2022		December 31, 2021		December 31, 2020
​	​	US$(000)	​	US$(000)	​	US$(000)
Deferred Income tax	​	​	​	​	​	​
Assets	​	​	​	​	​	​
Cost of net asset for the construction of the tailing dam		163,975		139,635		125,621
Royalty accrual		178		219		83,570
Provision for remediation and mine closure		25,348		22,620		19,937
Unpaid vacations		10,031		10,078		7,015
Provision for mining taxes		5,200		11,604		6,124
Development costs	​	37	​	47	​	59
Leases		1,867		709		931
Other provisions		10,537		10,381		10,826
​		217,173		195,293		254,083
Liabilites	​	​	​	​	​	​
​		​	​	​		​
Property, plant and equipment depreciation		557,626		529,124		545,636
Stripping activity asset		80,569		59,673		43,187
Embedded derivatives for price adjustment of copper concentrate and cathode	​	34,904	​	3,865	​	37,862
Valuation of inventories		28,386		24,960		18,479
Debt issuance costs		763		28		412
​		702,248		617,650		645,576
Deferred liabilities		485,075		422,357		391,493
Supplementary retirement fund	​	​	​	​	​	​
Deferred liability		5,716		4,965		4,581
​	​	​	​	​	​	​
Total deferred income tax liability		490,791		427,322		396,074

​

Sociedad Minera El Brocal S.A.A

Tax situation

Schedule of income tax provision

​

​	​	​	​	​	​	​
​		2022		2021		2020
​	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​
Income tax	​	​	​	​	​	​
Current		350,483		550,731		175,870
Deferred		62,718		30,864		25,962
​		413,201		581,595		201,832
Mining taxes	​	​	​	​	​	​
Current mining royalty and special mining tax		88,224		144,895		32,203
​	​	​	​	​	​	​
Supplementary retirement fund	​	​	​	​	​	​
Current		6,371		8,828		2,568
Deferred		751		385		323
​		7,122		9,213		2,891
​	​	​	​	​	​	​
Income tax expense reported in the statements of comprehensive income		508,547		735,703		236,926

Schedule of other assessments

​

​	​	​	​	​	​	​
Fiscal Year		Taxes		Penalty and Interest		Total
​		US$(000)		US$(000)		US$(000)
​	​	​	​	​	​	​
2003 – 2005		8,684		39,366		48,050
2006		10,840		51,955		62,795
2007		11,579		22,102		33,681
2008		16,906		16,923		33,829
2009		56,000		51,604		107,604
2010		53,566		125,047		178,613
2011		40,802		66,506		107,308
2012	​	869	​	6,917	​	7,786
2013	​	48,402	​	65,849	​	114,251
2014	​	5,434	​	724	​	6,158
2015	​	2,986	​	23,205	​	26,191
2016	​	60,041	​	3,268	​	63,309
2017		4,815		2,920		7,735
​	​	​	​	​	​	​
​		320,924		476,386		797,310

​

Schedule of reconciliation of income tax rate.

​

​	​	​	​	​	​	​	​
​		2022		2021		2020
​	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​	​
Profit before income tax		1,433,900		1,927,177		511,470	​
Income tax rate		32	%	32	%	32	%
Expected income tax expense		458,848		616,697		163,670	​
Special mining tax and mining royalties	​	(31,188)	​	(46,366)	​	(10,305)	​
Gain for uncertainty about treatments of income taxes	​	(19,667)	​	(14,379)	​	1,313	​
Non - deductible expenses	​	13,608	​	14,609	​	16,925	​
Income tax true – ups	​	(11,831)	​	6,345	​	5,292	​
Moratorium interest	​	(741)	​	1,019	​	24,652	​
Income tax rate change effect on deferred taxes for the change in Peruvian tax law once the current Stability Contract expires		1,117		840		(2,750)	​
Other		3,055		2,830		3,035	​
Current and deferred income tax		413,201		581,595		201,832	​
Mining taxes		88,224		144,895		32,203	​
Supplementary retirement fund		7,122		9,213		2,891	​
​	​	​	​	​	​	​	​
​		508,547		735,703		236,926	​
​	​	​	​	​	​	​	​
Effective income tax		35.47	%	38.18	%	46.32	%

​

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