Africa oil and gold tax for hunger fund

We will be farming down both Pangani and Kilosa-Kilombero licences and the process is being run by the UK-based First Energy, a brokerage company with experience in energy deals. We have about double digit companies interested to come-in. By the end of March, we hope the process will finish and then we will know who the potential partners are.

Tanga. The World Wide Fund for Nature (WWF), Tanzania Chapter, has stressed the need for civil societies in Tanzania to form zonal alliances that would coordinate activities under the Oil for Development Programme under the Fund.

Kenya's government wants to take advantage of lucrative deals for exploiting new oil deposits and mining, but wants to avoid legal tangles.

Moscow and Riyadh are 'very, very close' to an oil deal, says Russia's sovereign wealth fund chief  CNBCOil drops on oversupply worries as Saudi Arabia, Russia delay meeting  Investing.comBrent crude turns around after hints that Russia and Saudi Arabia are 'very close' to a deal  CNBCHow Saudi Arabia Can Save the Global Oil Industry  BloombergWhy the oil price shock is nothing to celebrate  Financial TimesView Full coverage on Google News

In our last article we noted that the taxes applicable to the oil and gas sector include the income tax which includes corporate income tax, withholding taxes and employment taxes.

In our previous articles on taxes applicable to the Oil and Gas sector we have already noted that the taxes applicable to the Oil and Gas industry include income tax which includes corporate income tax, withholding taxes, employment taxes; capital gain tax; Value Added Tax (VAT); Customs Duty; Excise Duty; Fuel Levy and Stamp Duty etc.

In our series of articles on taxes applicable to the Oil and Gas sector we have noted that the taxes applicable to the Oil and Gas industry include income tax which includes corporate income tax, withholding taxes, employment taxes; capital gain tax; Value Added Tax (VAT); Customs Duty; Excise Duty; Fuel Levy and Stamp Duty etc.

Tanzania has made significant natural gas discoveries of over about 55 trillion cubic feet. Production activities of some of these discoveries has already started. Oil exploration activities are also ongoing and there is a potential for more discoveries.

In our last article we noted that although some countries have a special fiscal regime for taxing the extractive sector including oil and gas, Tanzania does not have a special tax regime for the sector.