Congo, Democratic Republic of the

Congo, Democratic Republic of the

New hydrocarbons code passed

05 Aug 2015

The new code provides, inter alia, for a minimum capital gains tax rate of 35% and a minimum stake for the Congolese state of 20% in all projects. It also introduces open tenders for exploration and production licences, which were previously granted through direct negotiations between firms and the authorities, and requires the names of bidders to be published.