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ning taxation regime timor leste

Timor-Leste (formerly East Timor) Tax and Investment …

Current taxation regime On 25 June 2008, the Timor-Leste parliament passed the Taxes and Duties Act (Law No.: 8/2008) (the "TDA"). The TDA has effect from 1 January 2008 …

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EY BrochuraTimorLeste low

Timor-Leste's has a very competitive tax regime, with corporate tax, customs duties and indirect tax rates that are lower than in comparable countries in the Asia-Pacific region. Additionally, investors have access to tax incentives that can further reduce the total tax

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Timor-Leste Laws

Timor-Leste. SUMMARY LAWS SMOKE FREE ... Decree-Law No. 9/2006 on Warning Labels and Tax Control. English. Original Language. 03 Mar, 2006 Note: This law has not been reviewed by our legal staff and was not relied upon for purposes of our analysis. ... Decree-Law No. 14/2016 of June 8 on the Tobacco Control Regime is the …

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Wage Income Tax – Autoridade Tributária Timor-Leste

The amount of wage income tax payable for wages of residents of Timor-Leste can be calculated from this table: Monthly taxable wage Income tax rate; 0 – $500: 0%: More than $500: 10% of the amount over $500: A resident is a person who is. present in Timor-Leste for a period of, or periods amounting in total to, one hundred and eighty-three ...

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Are you a tax resident in Timor-Leste?

This will allow you to enjoy the low tax rate environment in Timor-Leste (top marginal tax of 10% for individual). Resident or non-resident? Gordon is a doctor who comes to Timor-Leste from Australia to assist and train the local doctors for seven months. He actually stays for more than 183 days to complete the training project in Timor-Leste.

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Timor-Leste's Tax Obligations for Crypto

Timor-Leste has recently updated its tax framework to include specific rules for crypto-assets, marking a significant shift in the regulatory landscape. This. ... In Timor-Leste, the taxation of crypto assets is primarily treated under the capital gains tax regime. This treatment aligns with global practices where cryptocurrencies are often ...

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Presentation on the Progress of Fiscal Reform in Timor-Leste …

The Tax Authority and its team will continue to work hard to improve the customer services to all its clients (taxpayers) to promote the principle of self-compliance within the ambit of …

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Timor-Leste goes to court to protect tax revenue

Timor-Leste goes to court to protect tax revenue. This week is a milestone for Timor-Leste. The Díli District Court will be the scene for a legal case which will mark the first time in history Timor-Leste has defended its sovereign rights in the court to protect taxes collected from oil and gas contractors.

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TAXATION IN TIMOR LESTE

• Timor Leste Petroleum Tax Regimes are unique for the following reasons: 1. Timor Sea Treaty with Australia within the JPDA sharing petroleum 90% to Timor Leste and 10% Australia. 2. Taxation of Bayu Undan Contractors Act specifically designed to encourage contractors to proceed to development. 3. Petroleum Taxation Act for future petroleum ...

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Timor-Leste

Timor-Leste has a tax treaty with Portugal only. 3. Legal Regime Transparency of the Regulatory System. ... The new regime applies to all arbitration proceedings based in Timor-Leste, whether domestic or international, as well as the confirmation and enforcement of arbitral awards rendered in another country, without prejudice to the …

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Timor-Leste

Timor-Leste's high fertility and population growth rates sustain its very youthful age structure – approximately 40% of the population is below the age of 15 and the country's median age is 20. While Timor-Leste's total fertility rate (TFR) – the average number of births per woman – decreased significantly from over 7 in the early ...

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Timor-Leste

200% of the excise value. Motor cars and small passenger vehicles (with an excise value exceeding USD 50,000) 30% of the excise value. Private boats and aircraft. …

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Timor-Leste

Special tax regime within certain maritime boundaries in the Timor Sea. On 6 March 2018, Timor-Leste and Australia signed a treaty permanently agreeing certain maritime boundaries in the Timor Sea (the MBT). ... With regard to the TDA, which represents the legislative framework for Timor-Leste's general tax rules other than for …

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TIMOR-LESTE PUBLIC FINANCIAL MANAGEMENT …

Ministry of Finance of Timor-Leste TIMOR-LESTE PUBLIC FINANCIAL MANAGEMENT REFORM STRATEGY 2022-2027 ... Regime for Procurement, Public Contracts and Respective Infractions was also approved in May 2022. The Tax reforms are ongoing and new legislation is being developed. Other reforms done include progress made

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Timor-Leste

A Summary of Timor-Leste Taxation and Investment Rules The information continued in this booklet is based on taxation and investment rules and practices, including …

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Settling the maritime boundaries between Timor-Leste and …

On 6 March 2018, at the United Nations Headquarters in New York, the representatives of the Democratic Republic of Timor-Leste (Timor-Leste) and the Commonwealth of Australia signed the Treaty between the Democratic Republic of Timor-Leste and Australia Establishing their Maritime Boundaries in the Timor Sea (Treaty). 1 …

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Income Tax – Autoridade Tributária Timor-Leste

The withholding tax rate for income paid to non-residents without a permanent establishment in Timor-Leste is 10%. Rent Payments: payer withholds the tax, unless …

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Wage Income Tax in East Timor

Isabelle is a tax resident of Timor-Leste, and her wage is above the tax-free threshold of $500. Since the first $500 is tax-free, her employer is only required to withhold wage income tax on $200 ($700-$500). ... How the tax regime in East Timor helps you to achieve success. Connect with us. Contact. Suite 343, Level 3, Timor Plaza, Dili ...

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Why Set Up Business in Timor-Leste

Timor-Leste also enjoys arable land throughout the country. Most of the local is involved in farming with its current highest produce is coffee, corn, and coconut. Tax Regime. Timor-Leste's tax system has had many reforms. The latest tax reform was in 2018, and it is to spur the domestic economy. The new tax system hopes to attract foreign ...

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Deloitte | tax@hand

Taxpayers operating in the JPDA therefore need to ensure compliance with the tax rules in both Timor-Leste and Australia. Taxation in Timor-Leste. Certain taxpayers will be liable for taxation under more than one tax regime in Timor-Leste. This will usually be the case where their activities fall within the petroleum and non-petroleum …

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Oil and gas taxation in Timor-Leste

etermines which tax regime applies.The principal Timor-Leste taxes and rates applicable to contractors in the petroleum indus. ry are outlined in the table below. Contractors ar. …

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DEMOCRATIC REPUBLIC OF TIMOR -LESTE NATIONAL …

accordance with the Treaty, Timor-Leste may apply its tax regime to 90% of the petroleum activities; Australia may apply its own tax regime to 10% of those activities. The Bayu-Undan field is, to date, the biggest discovery in the Joint Petroleum Development Area. The production and fiscal revenues relating to this field shall represent a very

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Presentation on the Progress of Fiscal Reform in Timor-Leste by the Tax

The Vice-Minister of Finance Sara Lobo Brites attended a meeting at the Executive Office of the Ministry of Finance Tower in Aitarak-Laran with the Tax Authority, which is the implementing agency of Fiscal Reform in Timor-Leste, on the 7 th of August 2020. The objective of the meeting was to present and update on fiscal reform progress in line with …

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FISCAL RULES FOR TIMOR-LESTE

FISCAL RULES FOR TIMOR-LESTE Ministry of Finance, Timor-Leste June, 2020 Author: Helder Lopes (Senior Economic and PFM Advisor) @Copy right: Ministry of Finance of Timor-Leste ABSTRACT Petroleum Fund accounted for more than 85 percent annual budget, domestic revenue was less than 12.1 percent to GDP in 2018, and public debt …

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Withholding Tax Traps in Timor-Leste

2.64%. Final. Income from mining and mining support services. 4.5%. FInal. Income paid to non-residents without a permanent establishment in Timor-Leste. 10%. …

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Foreign Ministry Spokesperson Mao Ning's Regular Press …

Mao Ning: China and Timor-Leste are traditional friendly neighbors. China is the first country to recognize Timor-Leste's independence and establish diplomatic relations with the country. Over the past 22 years since the establishment of diplomatic ties, the bilateral relationship has grown smoothly and traditional friendship has enjoyed ...

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Why Does Timor-Leste Use the U.S. Dollar as Its National …

Timor-Leste government argued that the price increases during the transition were not a result of using the USD but rather a consequence of market principles (supply and demand). The decision to adopt the USD was made by the United Nations and the Timor-Leste government to rescue the nation from political and economic instability. …

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Withholding Tax – Autoridade Tributária Timor-Leste

The withholding tax rate for income paid to non-residents without a permanent establishment in Timor-Leste is 10%. Rent Payments: payer withholds the tax, unless payer of rent is an individual All rent payments are subject to withholding tax which is required under the law to be withheld and remitted by the payer (Section 55, Taxes and …

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Sunrise LNG Chapter 4. In Timor-Leste or For Timor-Leste

Timor-Leste's tax regime imposes a "withholding tax" on the purchase of "construction services" from residents at the low rates of 2-4%, and mandates the withholding of income tax at 20% for non-residents. ... Total Timor-Leste tax revenue: $13,973 : $11,932 : Conclusion. It is important to understand the limitations of this analysis ...

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