Sovereign Wealth Fund Creation Act: Difference between revisions
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Sovereign Wealth Fund Creation Act (view source)
Revision as of 20:16, 21 February 2023
, 1 year ago→Article 2: Funding
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2.1 - A 16% tax on the income generated from bauxite mining is implemented. All the revenue generated from this tax shall go directly towards the Mineral Fund.
2.2 - A 20% export tariff on raw or refined bauxite is implemented. Raw or refined bauxite is described as a product/commodity that consists
=== Article 3: Operations & Management ===
3.1 - The Mineral Fund will be jointly operated by the Ministry of Revenue &
3.2 - In accordance with Article 4, the Central Bank and the Ministry of Revenue &
=== Article 4: Restrictions & Regulations ===
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4.2 - The fund '''can''' '''not''' invest in defense companies, mining & oil drilling companies, and energy companies with more than 30% of their sales being in energy made from consuming fossil fuels.
4.3 - As a baseline, the Ministry of Revenue &
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