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Papua New Guinea’s Mining Fiscal Regime H1 2016

15 pages report Published in Jul 2016

Synopsis
Timetric's Papua New Guinean fiscal regime report outlines the governing bodies, governing laws, licenses, rights and obligations and tax-related information on five commodities: copper, gold, silver, nickel and zinc.

Summary
Timetric's fiscal regime report covers Papua New Guinea which has a variety of natural resources such as gold, copper, silver and natural gas. The Mineral Resources Authority (MRA) is the authority responsible for governing the mining industry in the country. The Mining Act 1992 is the apex law for the mining industry.

Scope
The report outlines the governing bodies, laws, mining licenses and key fiscal terms which includes royalty, development levy, corporate tax, withholding tax, stamp duty, tax incentives, loss carry forward, capital and exploration expenditure-allowable deductions and goods and service tax (GST).

Reasons To Buy
To gain an overview of Papua New Guinean mining fiscal regime

Key Highlights
The Mineral Resources Authority (MRA) was established through the enactment of the Mineral Resources Authority Act 2005. It is a government agency working under the authority of the government of Papua New Guinea.

The Geological Survey Division (GSD) is carries out earth sciences research and studies, and processes field data to assist and promote exploration, geological and related activities in the mineral sector.

The Papua New Guinea Chamber of Mines and Petroleum is an association for the mining and petroleum industries in Papua New Guinea. It currently has approximately 200 members from both industries, which it helps and promotes through the implementation of various programs.

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