Tax treatment of gains on the sale of assets in the extractive sector in DRC: A much-needed mix of human rights, sustainable development and legal certaintyPosted: 23 July, 2018
Author: Eric Ntini Kasoko
Prospective Independent Tax Advisor; Researcher
The extractive industry consists of operations of exploration and/or exploitation of nonrenewable natural resources, especially gas, petroleum and mining operations. A distinction is to be made between the hydrocarbon sector (which comprises petroleum and gas activities) and the non-hydrocarbon sector (which relates to mining activities). Mineral-rich countries may choose to enact an all-encompassing piece of legislation to regulate both sectors. They may also opt for two or even three different pieces of legislation, each designed to regulate a specific sector.
Mitigating the extractive industries resource curse in East Africa: Adopting the UN Guiding Principles on Business and Human RightsPosted: 4 May, 2015
On 19 – 21 January 2015, the Centre for Human Rights, University of Pretoria in partnership with the Institute for Human Rights and Business office in Kenya on behalf of the Africa Commission Working Group on Extractive Industries organized a three day consultative meeting for civil society and national human rights institutions . The consultations focused on challenges and best practices in the extractive industries in the East Africa Sub region.
The extractive industries sector in East Africa is growing exponentially with the discovery of oil and gas in Uganda and Kenya. In 2006, Uganda discovered commercially viable oil deposits in the Albertine Grabben in western Uganda with an estimate of 2.5 billion barrels of oil. In neighboring Kenya the government has issued more than 47 exploration licenses and has four prospective basins in Anza, Lamu, Mandera and the tertiary rift. Tanzania unlike its neighbor’s has no commercial discoveries of oil but it has built a niche in the natural gas sector with 2 producing gas fields in Songo Songo and Manzi Bay.