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Jul 21, 2020· In June 2005, the National Parliament unanimously approved the creation of the TimorLeste Petroleum Fund to serve as a repository for all petroleum revenues and to preserve the value of TimorLeste''s petroleum wealth for future generations. The Fund held assets of .
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.
Geography. East Timor is bounded by the Timor Sea to the southeast, the Wetar Strait to the north, the Ombai Strait to the northwest, and western Timor (part of the Indonesian province of East Nusa Tenggara) to the eastern part of Timor island is rugged, with the mountains rising to 9,721 feet (2,963 metres) at Mount Tatamailau (Tata Mailau) in the centre of a high plateau.
Nov 18, 2019· All upstream licences in TimorLeste are awarded through licensing rounds under production sharing contract terms (PSCs). The terms are set for each licensing round, and include royalty of 5%, no cost recovery ceiling and contractor''s profit share of 60%.
Sep 19, 2018· Background. TimoreseAustralian relations have historically been largely positive. Australia has provided a significant amount of economic and military support to TimorLeste since its independence from Indonesia in 2002. The dispute over usage rights to the Greater Sunrise oil and gas field ("Sunrise") in the Timor Sea, was the most prominent exception to this state of affairs.
Mining companies are also subject to mining royalties at a rate of between 1% and 7% (depending on the kind of mineral), calculated on the total sales price. Note that there is a 60% discount on the rates of mining royalties if minerals are sold within the Bolivian market. Mining royalties can be offset against CIT if official mineral prices ...
TimorLeste became the Organization''s 177th member State on 19 August 2003. One of the major challenges for the country is to reduce poverty and create jobs for its population. The ILO assists TimorLeste to move forward with decent work objectives through the implementation of the Decent Work Country Programmme (DWCP) for TimorLeste .
Jan 23, 2020· But this Zacks Mining Gold industry player''s expected earnings growth rate for the current year is % compared with the industry''s projected earnings growth of %. In addition, the ...
mining activities in TimorLeste •In 2016, Council of Ministers approved Mining Code •2017 –Parliament continues discussions •Council of Ministers recently approved a DecreeLaw to create national mining company Murak Rai •In 2016, TimorLeste signed an contract with TL Cement to carry out mining and build a cement plant in Baucau
The TimorLeste Mining Code clarifies, in line with the country''s constitution, that all mineral resources on public and private land within the territory of TimorLeste are deemed to belong to the public domain of the state, and that the state may acquire, including through expropriation, the private land where those resources occur or are ...
Petroleum Mining Code for JPDA Oil and Gas TimorLeste. ... Question : Do rules specify the royalty rate(s) applying to extractive companies? PDF; A Model of PSC for Onshore Area, Key Terms and Conditions Oil and Gas TimorLeste. Question : Are there rules that govern how the proceeds from the sale of the SOE''s production should be ...
La''o Hamutuk (Walking Together in English) is a TimorLeste nongovernmental organization that monitors, analyzes, and reports on the principal international institutions and systems engaged in TimorLeste as they relate to the physical, economic, and social reconstruction and development of the ''o Hamutuk believes that the people of TimorLeste must be the ultimate decisionmakers ...
Jun 10, 2020· 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.
The Ministry of Petroleum and Minerals is the Government department responsible for the design and implementation of energy policy and management of mineral resources, including oil and other strategic ores, approved by the Council of Ministers, as well as for the licensing and regulation of extractive activity, industrial activity to benefit ...
TimorLeste: Mining Laws and Regulations 2020. ICLG Mining Laws and Regulations covers common issues in mining laws and regulations – including the mechanics of acquisition of rights, foreign ownership and indigenous ownership requirements and restrictions, processing, beneficiation – .
ELECTRICIDADE DE TIMORLESTE Avenida Caicoli, Dili, TimorLeste Electricityin TimorLeste Facts and Targets: 2008 2013 2015 2018 Generation capacity (MW)40 286 300 Transmission line (km) 0 603 Generated energy (GWh) 318 385 Electrification rate 22 62 75 100 Supply hours in distr.(h/day)6 24 National Dispatching Center since 2011
1. TimorLeste''s achievements as the newest country in Asia are underpinned by its commitment to reconciliation, inclusion and democracy. Emerging from Portuguese colonial administration and Indonesian occupation, the nation restored independence in 2002, amid a state of ruins where basic services and institutions were burnt to ashes.
allocated to the TimorLeste/TSDA • Contractor recovers costs from 95% of revenues remaining after royalty • No cost recovery limit (but after royalty) • Cost recovery ring fence by contract area • Unrecovered costs are increased by "Uplift" long term bond rate (30 yr US treasury bonds) + 11% currently around %
"To be a leading petroleum and mineral authority in the region" Autoridade Nacional do Petróleo e Minerais (ANPM) is TimorLeste public institution, created under Decree Law No. 1/2016 of 9th February, 1st amendment of DecreeLaw /2008 of 19th June, on the Autoridade Nacional do Petróleo, responsible of managing and regulating petroleum and mining activities in TimorLeste .
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 activities. Login or ...
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 Act).
mining royalty rates in timor leste . mining royalty rates in timor leste The principal Timor Leste taxes and rates applicable to contractors in the TheTST also has specific rules on sourcing of business profits residency royalties interest dividends and the taxation the oil and gas and mining .
Rates 1 Taxable income 1 Revenue 1 Deductions and allowances 1 ... Development Area ("JPDA") between Australia and TimorLeste. Corporate income tax In general ... • obtaining mining information relating to the presence, absence or extent of petroleum reserves in an area.
Guide G07 (Ver. ) Withholding Tax National Directorate of Domestic Tax Page 2 of 6 Royalties Where a legal person ( companies, partnerships, nonincorporated associations, etc.) pays royalties to a resident person or a Timor Leste permanent establishment of a nonresident person they are required to withhold tax from the gross amount of the royalties paid at the rate of 10%.
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