Rusal Obtains Tax Incentives for Friguia Alumina Refinery in Guinea -Shanghai Metals Market

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Rusal Obtains Tax Incentives for Friguia Alumina Refinery in Guinea 

Industry News 02:45:50PM Jun 19, 2017 Source:SMM

SHANGHAI, Jun. 19 (SMM) –On June 16, Guinea’s National Assembly approved modified agreement over tax incentives for Rusal’s Friguia alumina refinery in the country, according to a translated article published on the Economic and Commercial Counsellor's Office of the Embassy of the People’s Republic of China in the Republic of Guinea.

The refinery could enjoy the following benefits:

Profit Continues Shrinking at Chinese Aluminum Smelters, SMM Reports

Rusal pays 2.3 billion Guinea Franc as land use fees annually after annual alumina output reaches 650,000 tonnes;

Bauxite used by Friguia alumina refinery is subject to $0.5/tonne mineral resource tax;

Alumina exports are exempt from export duty;

Business income tax is exempt;

Vehicles, machinery, etc. that are imported for rebuilding Friguia alumina refinery are exempt from vehicle and vessel tax, road toll, etc.;

With the exception of gasoline and diesel, production materials imported for Friguia alumina refinery are exempt from all taxes and fees.

These favorable policies will last for 15 years. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
 

Rusal Obtains Tax Incentives for Friguia Alumina Refinery in Guinea 

Industry News 02:45:50PM Jun 19, 2017 Source:SMM

SHANGHAI, Jun. 19 (SMM) –On June 16, Guinea’s National Assembly approved modified agreement over tax incentives for Rusal’s Friguia alumina refinery in the country, according to a translated article published on the Economic and Commercial Counsellor's Office of the Embassy of the People’s Republic of China in the Republic of Guinea.

The refinery could enjoy the following benefits:

Profit Continues Shrinking at Chinese Aluminum Smelters, SMM Reports

Rusal pays 2.3 billion Guinea Franc as land use fees annually after annual alumina output reaches 650,000 tonnes;

Bauxite used by Friguia alumina refinery is subject to $0.5/tonne mineral resource tax;

Alumina exports are exempt from export duty;

Business income tax is exempt;

Vehicles, machinery, etc. that are imported for rebuilding Friguia alumina refinery are exempt from vehicle and vessel tax, road toll, etc.;

With the exception of gasoline and diesel, production materials imported for Friguia alumina refinery are exempt from all taxes and fees.

These favorable policies will last for 15 years. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.