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INTRODUCTION

The Democratic Republic of the Congo (DRC), located in Central Africa, is bordered by nine countries, namely Central African Republic, Southern Republic of Sudan, Uganda, Rwanda, Burundi, Tanzania, Zambia, Angola, Republic of Congo and Atlantic Ocean. Kinshasa is the capital of DRC. The country is exceptionally rich in mineral resources, including copper (10% of world reserves), cobalt (50% of world reserves), gold, diamonds and rare minerals. However, it has been marred in political instability and social and sectarian strife. For an in-depth study of the extractive industries sector in DRC, see 2015 draft report of the Extractive Industries Transparency Initiative here

https://congomines.org/system/attachments/assets/000/001/233/original/Projet_de_rapport_ITIE_2015.pdf?1490706707 (in French).

The currency is Congolese Franc (CDF).

Abbreviations:

ANAPI National Agency for the Promotion of Investments in the Democratic Republic of the Congo
BCEAO Central Bank of Western African States
CDF Congolese Franc
CDI Centre des Impôts
CIT Corporate Income Tax
DRC Democratic Republic of Congo
DGE Directorate General (Department of Tax Authorities)
FPI Funds for the Promotion of Industry
GAP General Accounting Plan
IF Property Tax
IFRS International Financial Reporting standards
INSS Social Security National Institute (Institut National de Sécurité Sociale)
INPP National Institute for Professional Preparation (Institut National de Préparation Professionnelle)
IRL Rental Income Tax
OCC Congolese Control Office
OHADA Organization for the Harmonization of Business Law in Africa
ONEM National Agency for Employment (Office National de l’Emploi)
PE Permanent Establishment
RCCM Trade Register (Registre du Commerce et du Crédit Mobilier)
RO Representative Office
SARL Limited Liability Company / Societe A Responsibilite Limitee
SAS Simplified Joint Stock Companies / Societe par actions simplifiee
SA Public Limited Company / Societe Anonyme
SNC Private Partnership (Société en Nom Collectif)
USD United States Dollars
WHT Withholding Tax