Sao Tome & Principe Presentation

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São Tomé e Príncipe has two zones for petroleum resource management: the Joint Development Zone (JDZ) shared with Nigeria, and the Exclusive Economic Zone (EEZ). In the JDZ, four production sharing contracts have been signed for blocks 1, 2, 3, and 4, and exploration is underway. Revenue so far comes only from signature bonuses. The EEZ has not yet seen any petroleum activity but a legal framework is being approved to allow for exploration. São Tomé e Príncipe has also established a Revenue Management Law to ensure transparent and accountable use of future oil revenues through a National Oil Account.

The case of São Tomé e Príncipe Séminaire régional sur la gestion des contrats pétroliers et gaziers, Libreville, 28-30 avril 2008

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Compared with other sources of energy, oil and gas continue to become primary sources of energy in Indonesia with the highest level of consumption. Apart from propping up almost one third of national revenue, oil and gas also significantly contribute to create job opportunities, supply the need of fuel, petrochemical industry which in turn effectively enhances investment and economy. As a natural resource contained within the bowel of the earth, the constitution of the Republic of Indonesia asserts that the ownership and enterpreneurship of national oil and gas industry is controlled by the state and immensely benefitted to the welfare of people accordingly (constitution 1945, article 33). Furthermore, it is asserted through the law 22/2001 on oil and gas that the control by the state is administered by the government as the holder of mining right. It means, the government is entitled with authority to administer the exploration and exploitation of oil and gas throughout Indonesian territory.

Tax relief amnesty scheme pakistan april 2018

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PM Abbasi's five-point tax reforms package CNIC numbers to be made NTN numbers to monitor tax compliance of all citizens. Income tax brackets and percentages to be revised. Complete tax exemption on annual income up to Rs1.2m; maximum percentage of 15pc to be levied on income above Rs4.8m per annum. Undeclared assets held locally or abroad to be declared after payment of nominal penalties. Those who avail scheme to be granted one-time exemption from accountability laws. Tax to be collected on all property transactions to be made uniform. Govt to have the right to purchase any property by paying 100pc over and above its declared value within six months of its registration. Government to monitor citizens' financial records and issue notices if they find evidence of tax evasion. Penalties to be decided in parliament.

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