"The standard VAT rate in Tanzania is 18% and applies to goods and imports."
From a Google search the above
So NHE have spent about AUD$25m thus far with a further spend of 18% for VAT equating to about a further AUD$4.5m.. ? Unless the "import" of the drill rig incurred a large VAT charge against the value of the rig also which the drilling company negotiated was payable by NHE and not them..
Ann: Project Updates, page-30
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