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Sep 19, 2018· Background. Timorese-Australian relations have historically been largely positive. Australia has provided a significant amount of economic and military support to Timor-Leste 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.
Timor-Leste 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 Timor-Leste to move forward with decent work objectives through the implementation of the Decent Work Country Programmme (DWCP) for Timor-Leste 2016-2020.
2.2 Rates 1 2.3 Taxable income 1 2.4 Revenue 1 2.5 Deductions and allowances 1 ... Development Area ("JPDA") between Australia and Timor-Leste. 2.0 Corporate income tax 2.1 In general ... • obtaining mining information relating to the presence, absence or extent of petroleum reserves in an area.
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 southwest.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.
allocated to the Timor-Leste/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 16.5%
On 14 April 2002, elections for Timor-Leste's first President took place with Xanana Gusmão obtaining an 85% majority. On 20 May 2002, Gusmão was sworn in as Timor-Leste's first President. Full administrative authority also passed from the UNTAET to the newly established Timor-Leste Government led by Mari Alkatiri as (by then) Prime Minister.
This Guide to Law Online Timor-Leste 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.
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 .
ELECTRICIDADE DE TIMOR-LESTE Avenida Caicoli, Dili, Timor-Leste Electricityin Timor-Leste 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
Royalty Rates for Licensing Intellectual Property includes critical information on financial theory, rules of thumb, industry guidelines, litigation based royalty rates, and tables of actual rates from real deals for different industries.
Timor-Leste: 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 – .
Petroleum Mining Code for JPDA Oil and Gas Timor-Leste. ... Question 1.2.5b: 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 Timor-Leste. Question 1.4.7c: Are there rules that govern how the proceeds from the sale of the SOE's production should be ...
Jul 21, 2020· In June 2005, the National Parliament unanimously approved the creation of the Timor-Leste Petroleum Fund to serve as a repository for all petroleum revenues and to preserve the value of Timor-Leste's petroleum wealth for future generations. The Fund held assets of .
Nov 18, 2019· All upstream licences in Timor-Leste 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%.
Jun 10, 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.
The Timor-Leste Mining Code clarifies, in line with the country's constitution, that all mineral resources on public and private land within the territory of Timor-Leste 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 ...
• Mining - Tax & Royalty; PSC uncommon ... Timor-Leste • Consumer contracts – normally 20-30 years with volume and price commitments – this is the most common form of ... – lower royalty rates (Nigeria, Tunisia, Vietnam) – higher cost recovery ceilings and/or profit shares (Egypt, Indonesia, Malaysia) ...
The Timor-Leste Institute for Development Monitoring and Analysis (La'o Hamutuk) Institutu Timor-Leste ba Analiza no Monitor ba Dezenvolvimentu Rua D. Alberto Ricardo, Bebora, Dili, Timor-Leste P.O. Box 340, Dili, Timor-Leste Tel: +670-3321040 or +670-77234330
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 ...
services - 2.64% and mining or mining support services - 4.5%. A 10% withholding tax applies to payments for the rental of land and buildings. All other payments to nonresidents with no permanent ... Corporate, Indirect and Personal Tax Rates and Rules for Timor-Leste 2019
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 Act).
Oct 24, 2018· East Timor is showing battery minerals potential across the country, leading Inca Minerals to lodge an applications for three exploration licenses.
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 ...
La'o Hamutuk (Walking Together in English) is a Timor-Leste non-governmental organization that monitors, analyzes, and reports on the principal international institutions and systems engaged in Timor-Leste as they relate to the physical, economic, and social reconstruction and development of the country.La'o Hamutuk believes that the people of Timor-Leste must be the ultimate decision-makers ...
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