Exploration Phase. With the exception of the following duties, royalties and the taxes, the Company is exempt from all other royalties, duties and taxes: (A) FIXED DUTIES: - award or renewal 300 000 F CFA - transfer ▇▇▇ ▇▇▇ ▇ ▇▇▇ - ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇ ▇▇▇ (▇) ANNUAL SURFACE RIGHTS: - first term of validity 100 F CFA/km(2) - second term of validity 200 F CFA/km(2) - third term of validity 400 F CFA/km(2) - extension 500 F CFA/km(2) (C) VALUE ADDED TAX (VAT): The Value Added Tax (VAT) at the rate of nineteen per cent (19%) only on the provision of services associated with administrative operations. (D) INCOME TAX PAYABLE BY EMPLOYEES: Income tax payable by employees with the exception of the Company's expatriate employees, whose activities are exclusively linked to the Agreement. Sub-contractors shall benefit from the same tax advantage for their expatriate employees in the same circumstances.
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Sources: Mining Agreement (Northwestern Mineral Ventures Inc.), Mining Agreement (Northwestern Mineral Ventures Inc.)