Business in Cambodia is conducted under the name Renaissance Minerals, the wholly owned subsidiary of Emerald Resources.
I don't know if that makes any difference. Renaissance will eventually pay tax in Cambodia, and Emerald pay tax in Australia.
However they are entitled to a tax holiday of 3 years from commencement of operations. Also they have been granted exemption of import tax on all vehicles and mill equipment landed on the dock in Cambodia.
The Cambodian government places great importance on the Okvau project, and they will benefit greatly from its successful operation. They are giving them every incentive to succeed.
The accountants must have worked out how the transfer of profits will be managed. Directors have experience in conducting overseas business.
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