The main sources of mining legislation in Timor-Leste are the Timorese Constitution and the Mining Code (approved by Law 12/2021, of 30 June 2021). ... as well as the environmental licensing process and the tax regime applicable to the mining industry. The approval of the Regulations to the Mining Code (including rules for classification of ...
The Tax Authority and its team will continue to work hard to improve the customer services to all its clients (taxpayers) to promote the principle of self-compliance within the ambit of self-assessment regime adopted under Timor-Leste's tax administration system, while taking into consideration the ongoing global tax reform. The ultimate goal ...
Timor-Leste is hosting a licensing round (contract signature planned for January 2021) to attract new exploration investment to counter the decline in production from the Bayu-Undan field, the country's main producing field (gas and condensate), which will be depleted by 2021. It is plausible that in the coming years Timor-Leste will …
fiscal sustainability. Timor-Leste is one of the largest recipients of IMF CD resources in the region. Ongoing CD projects, including on revenue administration and statistics, are critical for strengthening Timor-Leste's institutional capacity and to support reforms, as discussed in the Country Engagement Strategy . Policy recommendations
Timor-Leste 2013 EITI Report is the country's second report after the issuance of 2013 new EITI Standards. The 2013 EITI Report was prepared with its best endeavour to …
The Timor-Leste government approved a revised mining code in 2021 after spending years trying to rebuild public infrastructure and diversify from dependence on oil and gas. Nine of 14 companies that applied succeeded in prequalifying for mineral tenements, regulator Autoridade Nacional dos Minerais announced during an October …
Timor-Leste We would like to extend our gratitude to the Government of Timor-Leste, to TradeInvest Timor-Leste and to the private investors who provided testimonials of their experience in the country. The images and maps included in this document were used with permission from TradeInvest Timor-Leste, in representation of the Government
Contact Data CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For ...
Autoridade Nacional do Petróleo e Minerais of Timor-Leste. "To be a leading petroleum and mineral authority in the region" 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 …
The Mining Code 2021 aims to create a modern legal framework capable of promoting and facilitating the exploitation of mineral resources in Timor-Leste. Governance. Energy …
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. Non-residents are generally subject to income tax on Timor-Leste-source income attributed to a permanent establishment (PE) ( see the Branch income …
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). Where WHT is applied ...
The Petroleum Taxation Law sets out a specific taxation regime for petroleum activities. It ... "Code" means the Petroleum Mining Code agreed and adopted by Timor-Leste and Australia under Article 7 of the Timor Sea Treaty, as amended, varied, modified, or ... "Law on Income Tax" means the Law on Income Tax applicable in Timor-Leste
Tax payments (number) in East Timor was reported at 18 number in 2019, according to the World Bank collection of development indicators, compiled from officially recognized sources. East Timor - Tax payments - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2024.
The Mining Code (Law No. 12 /2021 of 30 June) sets out a special tax regime for holders of mineral rights (without prejudice to the general tax regime that …
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 …
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 …
accordance with the Treaty, Timor-Leste may apply its tax regime to 90% of the petroleum activities; Australia may apply its own tax regime to 10% of those activities. The Bayu-Undan field is, to date, the biggest discovery in the Joint Petroleum Development ... "Petroleum Mining Code" is deemed to be the Code referred to in Article 7 of ...
The official Timor-Leste government website, Governo. Prime Minister. Message; ... Propose policy and prepare the necessary draft regulations on macroeconomics, tax and non-tax revenue, fiscal framework, annual monitoring and evaluation, procurement, public accounting, public finance, internal audit and control of the State treasury, issuance ...
Companhia Mineira de Timor-Leste ("CMTL, S.A") - a state-owned national mining company established pursuant to the Decree Law No. 43/2022 of 8 June establishing Companhia Mineira de Timor-Leste, S ...
LEI N.º 12 /2021. de 30 de Junho. CÓDIGO MINEIRO. Atendendo ao disposto no artigo 139.º da Constituição da República Democrática de Timor-Leste, os recursos naturais devem ter uma lei própria que estabeleça as regras nesta matéria, revestindo-se a regulamentação das atividades pessoas singulares e coletivas interessadas em levar a …
The Mining Code sets out a special tax regime for holders of mineral rights (without prejudice to the general tax regime that applies to any entity in Timor-Leste, namely, …
1. This Code establishes the legal regime governing Mining Activities in the Democratic Republic of Timor-Leste. 2. The Regulatory Authority is tasked with the administration …
Australian LNG player Woodside and its partners Timor GAP and Japan's Osaka Gas have received approval from East Timor (Timor-Leste) to kick off work on a concept study for the development of the Greater Sunrise fields. ... "This week's statement confirmed the Timor-Leste government's alignment to this activity proceeding," she …
The Mining Code sets out a special tax regime for holders of mineral rights (without prejudice to the general tax regime that applies to any entity in Timor-Leste, namely, corporate income tax). ... Over the last two decades, Timor-Leste's government has been particularly focused on rebuilding public infrastructure (water and sanitation ...
Draft Mining Code for Democratic Republic of Timor-Leste August 2013 - 6 - (o) National Directorate of Mineral Resources: means the government body, under the supervision of the member of the government responsible for …
Draft Mining Code for Democratic Republic of Timor-Leste August 2013 - 5 - MINING CODE CHAPTER I GENERAL PROVISIONS ARTICLE 1 Purpose and Scope The …
Miners are likely to follow the successful model used to build Timor-Leste's oil and gas industry, where foreign companies shared knowledge and expertise as they partnered with local groups, said Bongiovanni, who ran business development, public affairs and community relations for six years in Timor-Leste for US oil services giant …
Message from Timor-Leste Multi Stakeholders Working Group Timor-Leste EITI Multi-Stakeholders Group (MSG) today, 31 March 2024 published its 14th EITI Reconciliation Report which covers information or data from extractive companies operating in Timor-Leste and Timor-Leste government bodies and agencies for Fiscal Year 2021.
TAXES AND DUTIES ACT. Decree Law No.: 8/2008. The present Act seeks to relieve the fiscal burden that has been considered to be disproportionate and excessive in view of …
