Model Project Development Agreement Page 3
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8811.6
Ownership; marketing; sharing of profits .................................................................... 31
12.
TAXES AND OTHER INCENTIVES......................................................................... 31
12.1
Income tax exemption .................................................................................................. 31
12.2
Tax depreciation of Project costs ................................................................................. 31
12.3
Value added tax............................................................................................................ 32
12.4
Customs and Import Duties.......................................................................................... 32
12.5
Land tax........................................................................................................................ 32
12.6
Registration fees........................................................................................................... 32
13.
GON OBLIGATIONS ................................................................................................. 32
13.1
Non discrimination....................................................................................................... 32
13.2
Establishment of a Project Coordination Committee ................................................... 33
13.3
Establishment of Project Task Force............................................................................ 33
13.4
Establishment of a Local Project Coordination Committee ......................................... 34
13.5
Grant of Government Approvals.................................................................................. 34
13.6
Visas............................................................................................................................. 36
13.7
Communications permits.............................................................................................. 36
13.8
Explosives .................................................................................................................... 36
13.9
Fuel............................................................................................................................... 37
13.10
Port of Entry and transport arrangements..................................................................... 37
13.11
Exchange facility.......................................................................................................... 37
13.12
Foreign Currency.......................................................................................................... 37
13.13
Local taxes ................................................................................................................... 38
13.14
Provision of documentation in connection with the Project......................................... 38
13.15
Site access .................................................................................................................... 38
13.16
Roads to Project Area................................................................................................... 39
13.17
Security ........................................................................................................................ 39
13.18
Transmission Line ........................................................................................................ 40
14.
REPATRIATION......................................................................................................... 40
15.
COMPANY OBLIGATIONS ...................................................................................... 41
15.1
EIA/IEE........................................................................................................................ 41
15.2
Plans, resettlement and rehabilitation........................................................................... 41
15.3
Arm's length transactions ............................................................................................. 41
15.4
Certain Infrastructure Facilities.................................................................................... 42
15.5
Local Share................................................................................................................... 42
15.6
GLOF early warning system ........................................................................................ 42
15.7
Electrification and free energy to local households ..................................................... 42
15.8
Use of local resources, institutions and human resources and national
product and services ..................................................................................................... 42
15.9
Technology and training............................................................................................... 43
15.10
Bonus and housing facilities ........................................................................................ 44
15.11
Responsibilities of the Company.................................................................................. 44
15.12
Technical Review Panel ............................................................................................... 45
15.13
Submission of Documentation ..................................................................................... 45
15.14
Insurance ...................................................................................................................... 45
15.15
GON right to power...................................................................................................... 45
15.16
Good Electricity Industry Practice ............................................................................... 46
15.17
Project handover........................................................................................................... 46
15.18
Training prior to Project handover ............................................................................... 46
15.19
Compliance with Laws of Nepal .................................................................................. 46
15.20
[Non-refundable fee ..................................................................................................... 46
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