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An Act to abolish the payment of annual land rental bid premium on contract area and merging of export taxes into stumpage/production fee in the forestry sector of the Liberian economy.

Country/Territory
Liberia
Document type
Legislation
Date
2013
Source
FAO, FAOLEX
Subject
Forestry
Keyword
Timber extraction/logging Concession Authorization/permit Royalties/fees Sustainable development
Geographical area
Africa, Least Developed Countries, Western Africa
Abstract

This Act abolishes the Annual Land Rental Bid Premium paid on Contract Areas and provides that export fees payment on logs and processed wood products are merged into stumpage/production fee. In lieu of the abolished Premium, the Forestry Development Authority (FDA) is authorized to levy, through Regulations, a special production-based fee (stumpage premium) to compensate for revenue loss associated with the cancellation of Annual Land Rental Bid Premium. The FDA is by this Act authorized to ens

Full text
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