mining taxation regime in east timor

  • Timor-Leste (formerly East Timor) Tax and Investment Guide

    Tax and Customs’ Regime for East Timor”. Regulation 2000/12 was transitional in nature and levied an excise on the import, domestic production and the export of certain goods. Regulation 2000/12 had application from 8 March 2000. On 20 December 2000, UNTAET issued Regulation 2000/18 entitled “A Revenue System for East Timor”.

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  • Oil and gas taxation in Timor-Leste Deloitte US

    Taxation of contractors The taxation of petroleum operations in Timor-Leste’s sovereign territory is primarily governed by the general taxation provisions in the Taxes and Duties Act, Decree Law No. 8 of 2008 (“TDA”), subject to special rules contained in Chapter IX of the TDA. Rates Corporate income tax is imposed at a rate of 30%.

  • Taxation Timor-Leste Ministry of Finance

    Petroleum Tax The National Directorate of Petroleum and Mineral Revenues is responsible for administering all Petroleum and Mineral Taxes payable in (Maritime Boundary Treaty and Timor-Leste Onshore): The area covered by the Farmer Joint Petroleum Development continue reading » Import Duty and Sales Tax

  • Taxation East Timor system

    In 2000, UNTAET issued a "Revenue System for East Timor," providing the basis for a tax regime. It largely adopted the Indonesian Income Tax Law with some modifications. East Timor's tax system is designed to tax business profits and "designated passive" income. Business profits include capital gains.

  • UNTAET REGULATION NO. 2000/12 ON A PROVISIONAL TAX

    Understanding dated 10 February 2000 between UNTAET, acting on behalf of East Timor, and the Government of Australia on arrangements relating to the Timor Gap. Section 8 Mining sector The tax and customs regime applicable to mineral extraction activities may be the subject of a separate UNTAET Regulation. Section 9 Definitions

  • Timor-Leste Extractive Industries Transparency Initiative

    Oct 02, 2020· ANPM is responsible for managing and regulating petroleum and mining activities in Timor-Leste. 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.

  • TIMOR SEA TREATY BETWEEN BETWEEN THE GOVERNMENT

    petroleum mining code. A taxation code has been developed and forms Annex G of the Australia and East Timor are to seek to agree on a joint fiscal regime. If agreement Article 7 of the Treaty requires Australia and East Timor to negotiate a Petroleum Mining Code to govern petroleum projects in the JPDA, as well as the export of

  • Timor-Leste PwC

    From a taxation point of view, Timor-Leste fell under the umbrella of Indonesia’s tax regime from 1975 until 24 October 1999 (being the day before the UNTAET assumed authority as a result of the 30 August 1999 Plebesite see Part A).

  • Timor-Leste Highlights 2013 Deloitte United States

    May 20, 2002· Salient features of tax regime in Timor-Leste’s sovereign territory (excluding the Joint Petroleum Development Area (JPDA)): The general taxation provisions in the TDA, subject to special rules contained in Chapter IX of the TDA primarily govern the taxation of petroleum operations in Timor-Leste’s sovereign territory.

  • A Guide to Canadian Mining Taxation

    A Guide to Canadian Mining Taxation, which we publish bi-annually.* For the past three to four years, features of our current mining tax regime. Readers who require further information or assistance are invited to contact any of KPMG’s mining professionals listed on the following page.

  • Taxation East Timor system

    In 2000, UNTAET issued a "Revenue System for East Timor," providing the basis for a tax regime. It largely adopted the Indonesian Income Tax Law with some modifications. East Timor's tax system is designed to tax business profits and "designated passive" income. Business profits include capital gains.

  • Miners owe East Timor millions in unpaid taxes ABC News

    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.

  • TIMOR SEA TREATY BETWEEN BETWEEN THE GOVERNMENT

    petroleum mining code. A taxation code has been developed and forms Annex G of the Australia and East Timor are to seek to agree on a joint fiscal regime. If agreement Article 7 of the Treaty requires Australia and East Timor to negotiate a Petroleum Mining Code to govern petroleum projects in the JPDA, as well as the export of

  • Timor-Leste Corporate Withholding taxes

    Payments of Timor-Leste-source income made by a resident to a non-resident are subject to WHT at 10%. Timor-Leste has entered into a double taxation treaty (DTT) with Portugal (although elements of DTT relief are also embedded in the Timor Sea Treaty [TST], see Taxation of petroleum operations in the Other issues section).

  • A new mining code for Timor-Leste Mining Journal

    Since 2002, when Timor-Leste regained its independence after a long period of military occupation by Indonesia, the country had no legal framework for the licensing of mining activities. Login or

  • Minerals Taxation Regimes Mining For Zambia

    Chapter 2: Mining taxation literature 19 2.1 Taxing the ‘resource rent’ 20 2.2 Enhancing international competitiveness 22 2.3 Gaps in the literature 24 Chapter 3: Regime types and taxation instruments 29 3.1 Fiscal regime types 30 3.1.1 Royalty/tax concessions and contractual-based fiscal regimes 30 3.1.2 The experience with mineral

  • IRS Guidance On Cryptocurrency Mining Taxes

    Oct 21, 2019· The Tax Implications of Mining Cryptocurrency. Pursuant to IRS Notice 2014-21, when a taxpayer successfully “mines” virtual currency, the fair market value of the virtual currency as of the date of receipt is includible in gross income. This means that successfully mining cryptocurrency creates a taxable event and the value of the mined

  • Withholding Tax Timor-Leste Ministry of Finance

    The withholding tax rate for income paid to non-residents without a permanent establishment in Timor-Leste 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 Taxation of South African Mining and Prospecting

    Nov 28, 2013· The first uncertainty mainly originates from the "State Intervention in the Mining Sector” or so-called SIMS report that the ANC issued and the recommendations contained therein regarding the proposed fiscal changes to the taxation regime for prospecting and mining companies, the most notable being the recommendation to introduce a mineral

  • A Guide to Canadian Mining Taxation

    A Guide to Canadian Mining Taxation, which we publish bi-annually.* For the past three to four years, features of our current mining tax regime. Readers who require further information or assistance are invited to contact any of KPMG’s mining professionals listed on the following page.

  • Mining Tax Guide Minnesota Department of Revenue

    The Minnesota Mining Tax Guide is published to identify all Minnesota mining-related taxes paid by the mining industry. Production Tax The Production Tax is the largest tax paid by the ferrous mining industry. It is a major source of revenue to the counties, municipalities and school districts within the Taconite Assistance Area.

  • LAW No. 8/2005 Of 3 August PETROLEUM TAXATION LAW

    The Petroleum Taxation Law sets out a specific taxation regime for petroleum activities. It applies to petroleum activities authorized and regulated under Timor-Leste’s Law on Petroleum Activities.

  • EY BrochuraTimorLeste low Governo de Timor-Leste

    Timor-Leste’s has a very competitive tax regime, with corporate tax, customs duties and indirect tax rates that are lower than in comparable countries in the Asia-Pacific region. Additionally, investors have access to tax incentives that can further reduce the total tax burden. Even though regional competitiveness is likely to be maintained

  • Fiscal Decentralization and Mining Taxation

    Fiscal Decentralization and Mining Taxation Professor James M. Otto Abstract Mineral sector reform efforts have been initiated in many nations during the past decade. These efforts have resulted in new mining regulatory regimes in over 100 nations. As part of the reform process most nations

  • Timor-Leste Upstream Fiscal & Regulatory Guide, 2020: It

    Feb 10, 2020· Timor-Leste Upstream Fiscal and Regulatory Guide, presents the essential information relating to the terms which govern investment into Timor-Leste’s upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and

  • Miners owe East Timor millions in unpaid taxes ABC News

    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.

  • Mining: Sector Results Profile World Bank

    Apr 14, 2013· Timor Leste (East Timor) can attract private sector investment in mining exploration and production. This, in turn, contributes to increased tax revenues, export earnings, employment opportunities, infrastructure development especially in rural areas, and transfer of technology to the host countries. mining fiscal regime, environmental

  • AUTORIDADE NACIONAL DO PETRÓLEO E MINERAIS TIMOR

    Autoridade Nacional do Petróleo e Minerais (ANPM) is Timor-Leste public institution, created under Decree Law No. 27/2019 of 27 th August, 2 nd amendment of Decree-Law No. 20/2008 of 19 th June, on the Autoridade Nacional do Petróleo, responsible of managing and regulating petroleum and mining activities in Timor-Leste area, both offshore and onshore and in the Greater Sunrise Special Regime

  • Timor-Leste Doing Business

    Timor-Leste Region East Asia & Pacific Income Category Lower middle income Population 1,267,972 City Covered Dili 181 DB RANK DB SCORE 39.4 Rankings on Doing Business topics Timor-Leste 68 159 126 187 173 157 136 107 190 168 Starting a Business Dealing with Construction Permits Getting Electricity Registering Property Getting Credit

  • mining ta ation regime in east timor

    2010-6-4 East Timor who have been fighting for their independence for over 20 years." Suharto's blood-soaked regime was born out of the 1965 massacre. Old and sick men condemned as Communist ac­ tivists following the 1965 bloodbath are still sitting on death row.

  • Timor’s prosperity lies in its best assets: its beaches

    East Timor holds a special place in the Australian psyche. It is our newest neighbour, and we played a critical role in supporting its road to independence in 2002 through the Australian-led

  • Tax-News Global Tax News Zambia News Business

    Zambia Decides To Keep VAT, Amend Tax For Miners In 2020 Budget by Lorys Charalambous, Tax-News, Cyprus Friday, October 4, 2019. Zambia announced that it will retain value-aded tax but strengthen its administration and make changes to the tax environment for mining companies in the 2020 Budget, released on September 27, 2019.

  • An overview of PNG's taxation rules Papua New Guinea

    Papua New Guinea has recorded high levels of economic growth for a number of years, mainly on the back of the PNG liquefied natural gas (LNG) project, which began production in mid-2014. The country’s abundance of natural resources has also seen many of the world’s largest oil and gas and mining companies enter the market. While the economic signs continue to be positive, a major issue

  • Decree-Laws of RDTL

    Juridical regime of the Employees of Justice and the Services of the General offices of the Tribunals, the Prosecutor General and Public Defender . Correction Statement, The Decree-Law 27/2009. 24/08/09 . 03/11/09: 09/09/09 . 04/11/09: 28/2009 (1 st Amendment to the Decree Law 10/2009) Alters the Salary Regime of the National Police of Timor Leste

  • Petroleum tax amendments could benefit Australian Mining

    Apr 05, 2019· The collection of tax from the PRRT peaked in the 2000-2001 tax year with a return of $2.4 billion and has declined since, according to Australian Tax Office figures.

  • Media Releases « Government of Timor-Leste

    Approved 1 -Appointment of the President of the National Press of Timor Leste, IP (INTL) Governing Board; 2 -Supplement provisioning procedure approval, or amendment, to the Public Contract referring to the period of supervision’s extension on the improvement works and maintenance of road sections between Baucau and Lautém, between Maubara and Karimbala, and between Atabae and Mota-Ain;

  • Settling the maritime boundaries between Timor-Leste and

    Timor-Leste for example argues that Point A17 which marks the western edge of the ‘gap’ in the 1972 Seabed Treaty should be further east on the basis of a modified equidistance argument. 75 Clearly, neither Portugal as the colonial power, nor Timor-Leste as an independent state, have accepted that a line between the basepoint on the coast

  • Projects Timor Resources

    Projects Permits Blocks A & C (PSC TL OT 17 08 and PSC TL OT 17 09). Timor Resources has acquired the two most prospective coastal blocks A and C under two Production Sharing Contracts (“PSC”) with Autoridade Nacional do Petróleo e Minerais (ANPM) which is the Government authority for Timor-Leste.Timor Resources enters this area with Joint Venture partner Timor Gap which is the