The Tax Authority of Mozambique (AT) and the International Tax and Investment Center (ITIC) organised on 28-29 March, at the offices of Ernst & Young (EY) in Maputo, a seminar as part of its Joint Capacity Building programme.
Entitled “Taxation of Upstream Petroleum Operations – Global Trend and the Mozambican Case,” the meeting brought together tax experts from the public and private sectors, where several critical technical issues were discussed, such as global energy and gas markets, regulation and development of natural gas infrastructure, customs issues and oil tax regimes.
According to ITIC president Daniel Witt, with new natural gas projects coming on stream, Mozambique is approaching an economic and developmental renaissance and it is therefore important that the values acquired through natural resources are accompanied by proper reform of laws, regulations and tax systems.
“As such, the next three to five years are critical for reforming, developing and strengthening human capacity in the legal, regulatory and tax areas of the country. This combination of capacities will provide prosperity to Mozambicans,” the source said.
In his turn, the representative of the AT, Anibal Mbalango, said that the seminars are very positive, as they bring together the Tax Authority, the Oil and Gas companies and specialists so that together they can seek mechanisms to avoid disputes and improve tax collection.