Section 4, The Finance Act, 2016

The Income Tax Act, 2000 is amended by inserting aftersection 20 the following new section– 21. The chargeable income of a person derived from the exploitation of mineral rights, prospecting and exploration licenses, mining licences or mining leases granted under the Mines and Minerals Act, 2009 (Act No. 12 of 2009) shall be determined in accordance with and taxed at the rates prescribed in the Sixth Schedule”.