Mineral Resources Potential - Geothermal Resources

I exploration
ZBO Mind Resources Potential of Ethioaia
- 35% tax on taxable income generated from mining
operation;
- 10% dividend tax;
- 2% optional state free equity;
- Ten year losses carry fbmd;
- Generous deductions and calculations of expenditure;
- Reinvestment deduction;
- Right to sell the produced minerals locally or abroad
without obtaining other licenses;
- Exemption from customs duties and taxes on equipment,
machinery, vehicles except Seda cars and spare parts
necessary for mineral operations;
- Provide for dispute settlement through negotiation and
international arbitration;
- Write off of investment within four consecutive years;
- Low royalty and tax rate;
- Fair exchange control arrangements, with no restrictions
on repatriation of profits and dividends in the currency of
investment or in an approved currency;
- The right to hold a foreign currency account in Ethiopia;
- The right to dispose of the- produced minerals locally or
abroad without obtaining other licences;
- require environmental impact study.
The calcuIations for det,mination of taxable income are
devised so that the investor will get .a fair reward for his effort and
investment in finding and producing the minerals.
The Mind Operations Department of the Ministry of
Mihes is the focal point to receive, facilitate and process
and mining applications presentd by foreign
company's joint venture with local companies and.sdl to large
sale mining activities to be carried out by l d companies.