IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Mar 2010 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

The Minerals and Petroleum Resources Royalty Act, 2008,is to take effect from 1 March 2010. The introduction of the new law was postponed for a year to give mining companies a rest from the global recession. The law requires all companies extracting minerals in the country to pay royalties at a minimum rate of 0.5% and a maximum rate of between 5% and 7% for refined and unrefined minerals, respectively. based on gross sales, less their allowable deductions.

AFFECTED COUNTRIES

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