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:
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.
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