Section Tax Clauses Due Date Comment

14.2 Income Tax

14.3 (a) Income tax rate 25% No date
14.3 (b) Surtax on high yield projects Exempt for First 25yrs
14.3 (c) Withholding rates on dividends 0%, interest 5%, payment Thereafter, withholding shall be at the
for services 5% rates provided by section 806 of
schedule 6 for non-resident and
provided by applicable law for
residents. For the first 25yrs
14.3 (d) Goods and Services taxes Exempt First 25yrs
14.3 (e) Export taxes Exempt for 25yrs
14.3 (f) Import duties on all goods related to production or Exempt, but shall pay custom service
operations fees on imports. For 10yrs
14.3 (h) Real Property tax on residences Exempt
14.3 (f) Custom user fee at US$400,000 Per year, during the The concessionaire will not pay the
first 10yrs customs user fee on the goods for
which it is paying import duties
15.1 (b) Royalty are for shipment or scale of Iron Ore in any price
month during the term shell be as follows;
i. When the index price is greater than US$100 per
metric ton or less, the royal will be 3.25%
ii. When the index price is greater than US$100per
metric ton or less than US$125 per metric ton, the
royalty will be 3.5%
iii. When the index price is greater than US$125per
metric ton, the royalty will be 4.0%
iv. When the index price shall be the CVRD sport
price FOB Brazil for shipment to china.
15.4 Surface Rent for all land within the concession areas shall Per year for the first
be US$100,000 10yrs, after the
effective date
US$250,000 per year
for the next 15yrs
16.1 ECOWAS trade levy. The concessionaire shall be No tax rate and due date
subjected to ECOWAS trade levy on all goods imports into
Liberia from non-ECOWAS states at the rate established
by applicable law.
16.3 Regulative Fees; driver’s license, vehicle registrations, No tax rate and due date
corporate registration, residency and work permits, and
other government regulatory fees
16.4 Mineral development and Research fees US$50,000 Onetime payment No specify due date
16.5 Other Support concessionaire shall make an annual First payment due on
contribution of US$100,000 during the term of this the effective date,
agreement subsequent
contribution shall be
made on each
anniversary
16.6 Up-front payment US$4,000,000 in cash First payment 3days The payments are divided into two.
after the effective date 20,000,000 is pay on 3days after
and later of 120 days issuance of the safe approval for
after the effective date purchase of request foreign currency.
 STARZ UNIVERSITY
AIRFIELD, SINKER
MONROVIA, LIBERIB

Course : Taxation (FIN403) Assignment

Submitted To : Mr. Kollie Gizzie

Submitted By : Endlynel Y. Diggs ID# 3536

College : Management Information System (MIS)

Date of submission : June 28, 2021 @ 6:00 p.m.