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Aresource rent tax is a tax on therents gained on the exploitation of a resource.[1][2][3] It can cover both renewable and non-renewable resources. It is classically understood to be a tax on thesurplus value generated byresource exploitation beyond the necessary costs of production (which includes rewards to capital).[1] An investor enjoys relief from taxation until a certain rate of return has been achieved, at which point profits are shared with the host government.[1]
Resource rent taxes are particularly prevalent in mining and petroleum industries.[1] Australia'sMinerals Resource Rent Tax covers rents in the mining industry.[4] Norway introduced a resource rent tax onaquaculture (i.e.,salmon and trout farming) in 2023,[5] and resource rent tax on onshorewind energy effective January 1, 2024.[6][7][8] In Iceland, a resource rent tax has been placed on fishing industry profits.[9] In Switzerland, there is a resource rent tax onhydropower.[10]
Some other countries that apply resource rent tax include:[11]
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