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After almost five years in preparation, the Council of Ministers of Timor-Leste approved earlier this month the country's first draft mining code. 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.A mining ...
Valuable information and advice on taxation in East Timor. Austrade can help you to reduce the time, cost and risk of exporting to East Timor. Find out about the taxation in East Timor.
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.
Doing business Current business situation. In 2015, Timor-Leste was ranked as Australia's 111th largest goods trading partner, with total merchandise trade valued at A$29 million. Australian exports to Timor-Leste were valued at A$27 million with major items including: passenger motor vehicles; aircraft, spacecraft and parts; refined petroleum
Timor-Leste's Validation commenced on 01 July 2016. On January 11 2017, the EITI Board found that Timor-Leste 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.
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.
Timor-Leste's Ministry of Petroleum and Mineral Resources (MPRM) has been talking with people around the country about a proposed law and code to license and regulate mining operations in the country. The first consultation was in Oecusse on 26 August, and another will take place in .
Oct 09, 2019· 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.
Creating a Mining Code for Timor-Leste Dezenvolve Kódigu Mineiru ba Timor-Leste. 20 April 2017. Updated 6 October 2019. ... Timor-Leste'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 ...
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 Timor-Leste with special attention to the environment protection, and in a sustainable manner. In line with this spirit, the draft mining legislation, which is now
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 ...
JPDA 03-12 subjected to the Timor Sea Treaty signed between the Government of Timor-Leste 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
1 Submission on Proposed Timor-Leste JPDA Taxation Regime Principal Issues 1. Limitation on Tax Deductions Article 9.2 of the Timor-Leste Petroleum Taxation Act 2004 (the "Act")disallows tax deductions for costs which are "disallowed" as recoverable under the PSC.
Apr 09, 2017· The private company of Australia's Fuller family has signed a deal to explore for oil and gas onshore Timor-Leste, with the ambitious aim of beginning oil production within four years. Timor ...
"Timor-Leste Taxation Law" means the Law on Income Tax, the Law on Value Added Tax on Goods and Services and the Sales tax on Luxury Cars, and the Law on General Tax Provisions and Procedures as these laws apply in Timor-Leste by virtue of UNTAET Regulation No. 1999/1, as modified by UNTAET Regulation No. 2000/18;
Autoridade Nacional do Petróleo e Minerais (ANPM) is Timor-Leste public institution, created under Decree Law No. 1/2016 of 9 February, 1st amendment of Decree-Law No.20/2008 of 19th June on the Autoridade Nacional do Petróleo (ANP), responsible managing and regulating petroleum and mining activities for in Timor-Leste area, both offshore and onshore and in the Joint Petroleum Development ...
taxation reform, four separately distinguishable taxation regimes exists for Timor-Leste'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, Timor-Leste .
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.
Tax Law and Public Rulings Taxes and Duties Act 2008 is the key law specifying Timor-Leste's taxes and duties, and other aspects of the tax system. There are other laws that impact on taxation. Public Rulings: the Timor-Leste Revenue Service ... continue reading »
With its longstanding dispute with Australia over the Timor Sea resolved, neighbouring Timor-Leste looks set to expand its petroleum and mineral industries. Meanwhile, its government is actively seeking investors in agriculture and fisheries, tourism and services, according to Abel Guterres, Timor-Leste Ambassador to Australia.
In Timor-Leste, more than 150 students have graduated from the English Access program and more than half of the graduates from the 2009 and 2010 programs are currently studying abroad: 18 of them have gone on to receive International Scholarships to study Bachelor's degrees in English-speaking universities in countries including the U.S ...
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 ...
Broadly, the tax regime in the JPDA is the same as that in Timor-Leste's sovereign territory (outlined above) with the key difference being that 90% of the revenue or profit derived from the JPDA is subject to tax in Timor-Leste by virtue of the Timor Sea Treaty ("TST") with Australia.
Timor Resources. Timor Resources is an Australian privately owned oil and gas company backed by NEPEAN™, Australia's leading privately owned engineering, mining services and industrial manufacturing organisation.Timor Resources, in joint venture with the Timor Government is the first company in over 40 years to have the rights to develop onshore oil and gas resources within the .
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