This is a paper that is focusing on the Republic of Somaliland is a self-declared nation assignment. The paper also provides additional information to use in the writing of the assignment paper. Below is the assessment description to follow:
The Republic of Somaliland is a self-declared nation assignment
The Republic of Somaliland is a self-declared nation which is internationally considered to be a part of the Federal Republic of Somalia. Located in the North West of Somalia the country practises self-governance. Also, as such has been developing its own Mining Act for the region. Somaliland is geologically located on the Arabian Nubian Shield and later Cenozoic sediments. As such is rich in minerals including gold, copper, bauxite, gypsum, tin, silica sands, uranium, and hydrocarbons. Currently only minor scale mining activity occurs in the county and developing a solid mining code and taxation regime is of upmost importance to develop a mineral sector in the country and create an attractive investment environment.
This paper summarises the current draft mining act of Somaliland, the various tax instruments in the act. Also, those instruments from other acts which may be prudent to an international investor. The paper also summarises the pros and cons of various taxation methods including royalties, government free carry and government participation. Additionally, how this could affect investor confidence/attractiveness to the country.
Contents: Introduction (5%) Summary/introduction of the issues to be examine and the current situation of mining and regulations in Somaliland. Current Mining Act Summary (15%) A review of the current (draft 2018) legislation, previous iterations of the mining act and how this conforms with international standards of mining act. Non-mining Tax Instruments (10%) Examination of non-mining specific tax instruments which have an effect on the attractiveness of investment into the sector. Implications for Investment Attractiveness (20%) A review of the implications on investor attractiveness based on current fiscal systems. How they compare to international and regional peers and based on mining taxation studies.
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