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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 .
to the Government of the Democratic Republic of Timor-Leste and that each of the actions detailed in your letter will occur expeditiously and will be completed prior to the entry into force of the Treaty. I have the further honour to confirm that your letter together with this reply will constitute an arrangement between Timor-Leste and ...
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 Timor-Leste in the Asia Pacific region, and it is a market that is expanding.
Jan 28, 2014· MCC is an independent U.S. 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 Timor-Leste as eligible to develop a compact. ... Millennium Challenge Corporation Visits Timor-Leste to Discuss New ...
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 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.
Jul 26, 2019· Detailed description of taxes on corporate income in Timor-Leste. Timor-Leste residents are subject to income tax on worldwide taxable income, where taxable income is essentially the difference between gross income and allowable deductions.
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
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 .
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
The official Timor-Leste 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.
• 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
Jul 26, 2019· Special tax regime for Production Sharing Contracts (PSCs) within the Boundary Treaty. On 6 March 2018, Timor-Leste and Australia signed the Boundary Treaty (though not yet ratified) effectively replacing the agreements that resulted in the Joint Petroleum Development Area (JPDA).
Jul 26, 2019· Timor-Leste residents are taxable on a worldwide income basis, while non-residents are taxable only on the income sourced from Timor-Leste. Residents earning foreign-sourced income may receive a foreign tax credit (see the Foreign tax relief and tax treaties section).Timor-Leste individual taxpayers are subject to income tax on their taxable income, which is essentially the difference .
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.
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 ...
"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 9th February, 1st amendment of Decree-Law No.20/2008 of 19th June, on the Autoridade Nacional do Petróleo, responsible of managing and regulating petroleum and mining activities in Timor-Leste area, both offshore and ...
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 royalty rates in timor leste . The Mining industry in India is a major economic activity which contributes significantly to the economy of India. The GDP contribution of the mining industry varies ... Get Price; Timor Sea Treaty Governo de TimorLeste. TIMOR SEA TREATY THE GOVERNMENT OF EAST TIMOR and ... Mining Code".
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.
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.
DEMOCRATIC REPUBLIC OF TIMOR-LESTE GOVERNMENT Decree-Law No. _1_/2016 of 09 February First amendment to Decree-Law No. 20/2008, of 19 June, which created the National Petroleum Authority The Government of the Democratic Republic of Timor-Leste is determined in continuing to create the necessary conditions for the socio-economic development of
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.
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