Nov 22, 2018This could be a golden opportunity for the Democratic Republic of Congo, where the majority of the population lives in poverty. The country produces more than a million tons of copper per year, holds the largest reserves of cobalt in the world and is
Democratic Republic of Congo Corporate Tax. Democratic Republic of Congo corporate tax (Limpt sur les revenus professionnels IRP) rate is 40%. The recovery of profits and profits tax is done by way of instalments or withholding tax. The balance is regularized once the tax year is closed.
Moreover, foreign sourced profits are not taxable in the Democratic Republic of the Congo (DRC). Exceptional tax on expatriates salaries (IERE) Where a company hires expatriates, it has to pay an exceptional tax called Impt Exceptionnel sur la Rmunration des Expatris (IERE). We draw your attention to the fact that this tax is not withheld at source on the expatriates salaries, but taken in
Taxation can be either spontaneous or organized by the authorities. To encourage certain business, the State generally grants aid in two forms through subsidies and very low interest loans or through exemptions or reductions in tax payments. This article gives the Tax highlights of the Democratic Republic of Congo [DRC].
Capital gains are treated as ordinary income and subject to corporate tax. It should be noted that latent capital gains on business assets are exempted in so far as they are not realised by the taxpayer. The rate is 35% in common law and 30% for mining companies. Democratic Republic of Congo Transaction taxes Value Added Tax (VAT) VAT has been
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Sep 01, 2016The Cold War and decolonisation. Patrice Lumumba became the Republic of the Congos prime minister in the nations first democratic elections. The year before, Lumumba had been asked by some businessmen in New York whether the Americans would still have access to uranium, as they had when the Belgians ran the country.
Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad.
Democratic Republic of Congo army general profits from . Democratic Republic of Congo army general profits from illegally mining conflict gold. General is a player in gold industry The report by the group of experts on the Democratic Republic of the Congo also finds that a high ranking Congolese army commander, Major General Gabriel Amisi Kumba, is running a gold mining operation.
Democratic Republic of Congo Fiscal Guide 2017/18 3. Stamp duty and registration fees. Stamp duty in Congo is established on all papers to be used for civil and legal instruments and documents which may be brought before courts as proof. It shall be collected on the basis and in accordance with the rules laid down in the General Tax Code.
Aug 17, 2017Congo Suspends Value Added Tax on Mining Imports. A Inc. mining truck leaves for the processing plant after collecting newly excavated ore from the open pit at Katanga Mining 's KOV copper and cobalt mine in Kolwezi, Katanga province, Democratic Republic of Congo.
Jul 21, 2017The Democratic Republic of Congo is losing a fifth of all of mining revenues because of corruption and mismanagement, a campaign group has said. In a report published on Friday, Global Witness said at least $750m paid by companies to the Congo's tax agencies and state owned mining company Gecamines disappeared between 2013 and 2015.
1698 Condemning the continuing illicit flow of weapons within and into the Democratic Republic of the Congo (31 July 2006) 1649 Reiterating its serious concern regarding the continuation of hostilities by militias and foreign armed groups in the eastern part of the Democratic Republic of the Congo (21 December 2005)
Oil and gas. According to the 2012 BP Statistical Energy Survey, Congo had proved oil reserves of 1.94 billion barrels at the end of 2011, equivalent to 17.9 years of current production and 0.11% of the world's reserves. The accompanying downstream oil industry is an important element in the country's economy.
In 2017, the Democratic Republic of the Congo made a minimal advancement in efforts to eliminate the worst forms of child labor. During the year, the government of the Democratic Republic of the Congo adopted a revised Mining Code which includes penalties for employing child laborers or
Main problems faced by children in Democratic Republic of the Congo Poverty. The Democratic Republic of the Congo is one of the poorest countries in the world with more than 70% of its population living below the poverty line. A large part of the population lives on less than two dollars a day.
Jan 27, 2015Congo risking billions with planned tax hike, mining code revision. The Democratic Republic of Congo may lose its position as Africas top copper producer amid unresolved disputes over revisions to its mining code, including plans to hike royalties and raise the compulsory stake for state owned companies in new ventures. According to
Congo, Democratic Republic of the Corporate Withholding taxes. Interest. Note that if the interest is paid to a local company, the WHT does not apply since the interest is included in the taxable income of the company charging such interest. Directorship fees. Service fees paid to foreign individuals or entities not established in the Democratic Republic of the Congo.
The Democratic Republic of the Congo introduced a number of tax changes for 2019 as part of the Finance Law 2019, which was published in the Official Gazette on 21 December 2018. The main changes include A reduction in the standard corporate tax rate from 35% to 30%;