Guinea approves tax incentives for Rusal’s Friguia alumina refinery

<p>Rusal operated Friguia alumina refinery in Guinea got its agreement over tax incentives approved from the country&rsquo;s National Assembly, reported an article published on the Economic and Commercial Counsellor's Office of the Embassy of the People&rsquo;s Republic of China in the Republic of Guinea.</p> <p>The agreement would allow Friguia alumina refinery multiple tax benefits:</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/friguia.jpg" alt="News" width="517" height="342" /></p> <p>Rusal has to pay 2.3 billion Guinea Franc as yearly land use fees after alumina output from the complex reaches 650,000 tonnes annually.</p> <p>Frigua alumina refinery has to pay $0.5 per tonne mineral resource tax for the bauxite it uses in the country.</p> <p>Alumina export by the company is exempted from export duty, and business income tax for the company is also exempted under the agreement, the article stated.</p> <p>{googleAdsense}</p> <p>Infrastructure development of the alumina refinery has been kept tax free. Vehicles, machinery, plant and equipement that are imported for rebuilding Friguia alumina refinery are kept outside the realms of vehicle and vessel tax, road toll, etc.</p> <p>Except gasoline and diesel, all other materials that Friguia alumina refinery imports for alumina production are exempt from all kinds of taxes and fees under the new agreement.</p> <p>As per reports, these policies have a 15-years validity period. Rusal expects to leverage substantially from these policies while helping Guinea in its overall industrial development.&nbsp;</p>