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Oct 09, 2019· ANPM is responsible for managing and regulating petroleum and mining activities in TimorLeste. This agency was created under Decree Law No. 1/2016 on 9 February 2016. The tax regime applicable to petroleum activities depends on the jurisdiction area, but profit oil, first tranche petroleum, royalties and corporate income tax are the main levies.
Tax Law and Public Rulings Taxes and Duties Act 2008 is the key law specifying TimorLeste''s taxes and duties, and other aspects of the tax system. There are other laws that impact on taxation. Public Rulings: the TimorLeste Revenue Service ... continue reading »
Jun 16, 2017· The TimorLeste Government hopes to attract investment in mining, and has created a national mining company, while Parliament is discussing a new Mining Law and Minerals Fund. However, La''o Hamutuk believes that it is unwise to promote mining in TimorLeste, as it comes with many social and environmental risks.
JPDA 0312 subjected to the Timor Sea Treaty signed between the Government of TimorLeste and Australia th May 200220 and the Interim Petroleum Mining Code (IPMC) issued under article 7 of the Timor Sea Treaty. Parties to the contract are the Designated Authority established under the Treaty, party of the first part Production
Doing business Current business situation. In 2015, TimorLeste was ranked as Australia''s 111th largest goods trading partner, with total merchandise trade valued at A29 million. Australian exports to TimorLeste were valued at A27 million with major items including: passenger motor vehicles; aircraft, spacecraft and parts; refined petroleum
DEMOCRATIC REPUBLIC OF TIMORLESTE GOVERNMENT DecreeLaw No. _1_/2016 of 09 February First amendment to DecreeLaw No. 20/2008, of 19 June, which created the National Petroleum Authority The Government of the Democratic Republic of TimorLeste is determined in continuing to create the necessary conditions for the socioeconomic development of
Jul 26, 2019· Detailed description of taxes on corporate income in TimorLeste. TimorLeste residents are subject to income tax on worldwide taxable income, where taxable income is essentially the difference between gross income and allowable deductions.
Autoridade Nacional do Petróleo e Minerais (ANPM) is TimorLeste public institution, created under Decree Law No. 1/2016 of 9 February, 1st amendment of DecreeLaw /2008 of 19th June on the Autoridade Nacional do Petróleo (ANP), responsible managing and regulating petroleum and mining activities for in TimorLeste area, both offshore and onshore and in the Joint Petroleum Development ...
• Mining Tax Royalty; PSC uncommon • Mechanics different, but economics can be equivalent • Most countries have an "hybrid" system 2 Licence Contractual Production Sharing Contracts Service Contracts Pure Service Risk Service Tax and Royalty Government usually owns minerals in the ground in both types. Each involves sharing of
After almost five years in preparation, the Council of Ministers of TimorLeste approved earlier this month the country''s first draft mining code. Since 2002, when TimorLeste regained its independence after a long period of military occupation by Indonesia, the country had no legal framework for the licensing of mining mining ...
Mining Code approval latest achievement in fulfilling Government . Aug 15, 2016 . Official Spokesperson for the Government of Timor Leste . as manganese, gold, silver and copper, and non metallic mineral such as limestone.
These are the following: statutory tax regime, tax regime that relates to companies operating under Production Sharing Agreements and tax regime that relates to companies operating under Host Government Agreements. The statutory tax regime is applicable to all companies operating in Azerbaijan, except for those, who are involved into oil and ...
This Guide to Law Online TimorLeste contains a selection of Timorese legal, juridical, and governmental sources accessible through the Internet. Links provide access to primary documents, legal commentary, and general government information about specific jurisdictions and topics.
Creating a Mining Code for TimorLeste Dezenvolve Kódigu Mineiru ba TimorLeste. 20 April 2017. Updated 6 October 2019. ... TimorLeste''s draft Mining Code was approved by the Council of Ministers on 9 August 2016 and celebrated in a government press release the ... the Government approved a revised version of the Mining Code and Parliament ...
taxation reform, four separately distinguishable taxation regimes exists for TimorLeste''s sovereign territory and areas identified in the Timor Sea Treaty. Please refer to Appendix B – "Tax Regime Matrix" for a summary on the application of each regime. From a taxation point of view, TimorLeste .
Jan 28, 2014· MCC is an independent Government foreign aid agency based on the principle that aid is most effective when it reinforces good governance, economic freedom and investments in people. ... the MCC Board of Directors selected TimorLeste as eligible to develop a compact. ... Millennium Challenge Corporation Visits TimorLeste to Discuss New ...
Potentially billions of dollars of tax is being withheld from the government of East Timor by some of the world''s richest oil and gas companies operating in the Timor Sea, Four Corners has revealed.
TimorLeste''s Validation commenced on 01 July 2016. On January 11 2017, the EITI Board found that TimorLeste has made meaningful progress in implementing the 2016 EITI Standard. Validation is the EITI''s quality assurance mechanism and measures the progress countries have made in meeting the requirements of the EITI Standard.
Tourism has a considerable potential for Timor Leste''s economic development. This sector is still at a very early stage of its development. It is an opportunity sector largely due to the location of TimorLeste in the Asia Pacific region, and it is a market that is expanding.
Jul 26, 2019· TimorLeste residents are taxable on a worldwide income basis, while nonresidents are taxable only on the income sourced from TimorLeste. Residents earning foreignsourced income may receive a foreign tax credit (see the Foreign tax relief and tax treaties section).TimorLeste individual taxpayers are subject to income tax on their taxable income, which is essentially the difference .
The withholding tax rate for income paid to nonresidents without a permanent establishment in TimorLeste is 10%. Rent Payments: payer withholds the tax, unless payer of rent is an individual All rent payments are subject to withholding tax which is required under the law to be withheld and remitted by the payer (Section 55, Taxes and Duties ...
The official TimorLeste government website. On July 22, 2019, the Ministry of Health celebrated for the third time the National Health Day with the theme "Lori Health ba ema hotu actu moris di''ak ho worthy" (Health for all people for a healthy life with dignity) at the Dili Convention Center.
Apr 09, 2017· The private company of Australia''s Fuller family has signed a deal to explore for oil and gas onshore TimorLeste, with the ambitious aim of beginning oil production within four years. Timor ...
Government policy on the natural and mineral resources is clear; that is: to explore and develop with sound mining practice for the benefit of people of TimorLeste with special attention to the environment protection, and in a sustainable manner. In line with this spirit, the draft mining legislation, which is now
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