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The objective of this project component was to support the Government to develop transparent arrangements for optimal generation and use of mineral revenues. Based on the assessment that follows, it was established that half of the planned activities were implemented accordingly. It was also apparent that the review of the mining fiscal regime would be achieved ahead of the time envisaged at Project design. 

2.1 Reforming the Mineral Royalty & Tax Regime

This sub component was aiming at completing the establishment of a coherent, standardized and globally competitive fiscal regime for mining through design and implementation of suitable royalty and tax regulations. The review has been done and vetting process underway.

2.2 Maximizing Mineral Revenue Collection

The sub component was aimed at strengthening royalty and tax administration, so that mineral revenue collections are maximized. An auditing manual has been developed and awaits approval from the relevant authorities.

2.3 Building Mineral Revenue Transparency

According to the PAD, this sub component was aiming at building mineral revenue transparency so that revenue collection arrangements can be subjected to scrutiny and assurances given to the public that revenues are being properly accounted for.The Revenue Forecasting Model has been developed and training has been done.

2.5 Developing Mineral Revenue Forecasting

This project sub-component was designed to assist the Government to forecast mineral revenue as part of its annual budget preparation cycle and medium-term macro-economic planning. Forecasts would also be useful as part of tax regime design, tax administration planning and in formulating revenue management policies.

Draft terms of reference have been produced and awaits approval from the relevant authorities and more are in this report: MOF Presentation

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