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Tax situation (Tables)

12 Months Ended

Dec. 31, 2023

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.		2022 and 2023
Compañía Minera Condesa S.A.		2018,2019,2021-2023
Compañía Minera Colquirrumi S.A.		2018-2023
Consorcio Energético de Huancavelica S.A.		2018-2023
El Molle Verde S.A.C.		2018-2023
Empresa de Generación Huanza S.A.		2018,2019,2021-2023
Inversiones Colquijirca S.A.		2018-2023
Minera La Zanja S.R.L.		2019,2020-2022,2023
Sociedad Minera El Brocal S.A.A.		2018-2023
S.M.R.L. Chaupiloma Dos de Cajamarca		2018-2023
Procesadora Industrial Río Seco S. A.		2018,2019,2022,2023
Apu Coropuna S.R.L.		2018-2023
Cerro Hablador S. A. C.		2018-2023
Minera Azola S. R. L.		2018-2023

Sociedad Minera Cerro Verde S.A.A

Tax situation

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


		December 31, 2023		December 31, 2022		December 31, 2021
		US$(000)		US$(000)		US$(000)

Deferred Income tax
Assets
Cost of net asset for the construction of the tailing dam		193,378		163,975		139,635
Provision for remediation and mine closure		29,762		25,348		22,620
Unpaid vacations		9,031		10,031		10,078
Provision for mining taxes		4,335		5,200		11,604
Leases		3,007		1,867		709
Other provisions		11,282		10,752		10,647
		250,795		217,173		195,293
Liabilities
Property, plant and equipment depreciation		537,588		557,626		529,124
Stripping activity asset		126,744		80,569		59,673
Valuation of inventories		29,831		28,386		24,960
Embedded derivatives for price adjustment of copper concentrate and cathode		10,822		34,904		3,865
Debt issuance costs		547		763		28
		705,532		702,248		617,650
Net deferred liabilities		454,737		485,075		422,357
Supplementary retirement fund
Deferred liability		5,414		5,716		4,965

Total deferred income tax liability		460,151		490,791		427,322

Sociedad Minera El Brocal S.A.A

Tax situation

Schedule of income tax provision


		2023		2022		2021
		US$(000)		US$(000)		US$(000)

Income tax
Current		582,438		445,078		704,454
Deferred		(30,640)		63,649		31,249
		551,798		508,547		735,703
Mining taxes
Current mining royalty and special mining tax		96,082		88,224		144,895

Supplementary retirement fund
Current		7,467		6,371		8,828
Deferred		(302)		751		385
		7,165		7,122		9,213

Income tax expense reported in the statements of comprehensive income		551,798		508,547		735,703

Schedule of other assessments


Fiscal year		Taxes		Penalty and Interest		Total
		US$(000)		US$(000)		US$(000)

2003 – 2005		8,162		38,870		47,032
2006		10,844		51,963		62,807
2007		11,579		22,102		33,681
2008		16,906		16,923		33,829
2009		56,039		51,680		107,719
2010		53,566		126,406		179,972
2011		40,940		70,065		111,005
2012		869		7,326		8,195
2013		48,622		71,620		120,242
2014		5,344		706		6,050
2015		3,001		23,816		26,817
2016		61,875		3,360		65,235
2017		5,043		3,078		8,121
2018		4,666		4,250		8,916
2019 - 2022		499		172		671

		327,955		492,337		820,292

Schedule of reconciliation of income tax rate.


		2023		2022		2021
		US$(000)		US$(000)		US$(000)

Profit before income tax		1,330,762		1,433,900		1,927,177
Income tax rate		32	%	32	%	32	%
Expected income tax expense		425,844		458,848		616,697
Special mining tax and mining royalties		(32,182)		(31,188)		(46,366)
Gain for uncertainty about treatments of income taxes		(1,617)		(19,667)		(14,379)
Non - deductible expenses		12,744		13,608		14,609
Income tax true – ups		1,267		(11,831)		6,345
Penalties and moratorium interest		40,769		(741)		1,019
Income tax rate change effect on deferred taxes for the change in Peruvian tax law once the current Stability Contract expires		208		1,117		840
Other		1,518		3,055		2,830
Current and deferred income tax		448,551		413,201		581,595
Mining taxes		96,082		88,224		144,895
Supplementary retirement fund		7,165		7,122		9,213

		551,798		508,547		735,703

Effective income tax		41.46	%	35.47	%	38.18	%