|
|
GOVERNMENT REVENUE FROM DIAMOND ACTIVITY
Approximately $5.28 million USD is returned to the Government as revenue
from diamond activity in Sierra Leone. The principal revenue from
diamonds comes in the form of license fees and export taxes. Total
annual exports of diamonds reached $125 million in 2006 and over $140 million in 2007.
The export levy on diamonds represents a key part of government’s
diamond-related revenue. Government also receives revenue from licenses
(mining, dealer and export license fees).
There are three types of people to whom dealer and export licenses can
be issued (mining licenses are only issues to Sierra Leoneans):
-
Citizens
-
ECOWAS citizens
-
Foreign nationals
Proceeds from Diamond Mining in Sierra Leone (Estimates 2006)
|
Revenue Source
|
Breakdown |
Fees |
Total Revenue |
|
Artisanal Mining (approx. 2,000 licenses) |
|
|
| |
Licensing |
Le 200,000 |
$135,600 |
| |
Monitoring |
Le 100,000 |
$ 67,800 |
| |
Rehabilitation |
Le 200,000 |
$135,600 |
| |
Surface Rent |
Le 100,000 |
$ 67,800 |
|
SUB TOTAL |
|
|
$406,800 |
| |
|
|
|
|
Diamond Exports Duty (3% of $125 million) |
|
|
| |
GDO |
0.75% |
$930,000 |
| |
Evaluators |
0.40% |
$496,000 |
| |
Treasury
|
0.70% |
$868,000 |
| |
DACDF |
0.75% |
$930,000 |
| |
Monitoring |
0.25% |
$310,000 |
| |
Rehabilitation |
0.05% |
$ 62,000 |
| |
Public information |
0.10% |
$124,000 |
|
SUB TOTAL |
|
|
$3,720,000 |
| |
|
|
|
|
Exporters |
|
|
|
| |
Year License (11) |
$
40,000 |
$440,000 |
| |
Half Year License
(4) |
$
25,000 |
$100,000 |
| |
Export Agents (44) |
$
5,000 |
$220,000 |
|
SUB TOTAL |
|
|
$760,000 |
| |
|
|
|
|
Dealers |
|
|
|
| |
Citizen (49) |
$
2,000 |
$ 98,000 |
| |
ECOWAS (15) |
$
2,500 |
$ 30,000 |
| |
Non citizen (21) |
$
5,000 |
$105,000 |
| |
Monitoring (82) |
$
400 |
$ 32,800 |
| |
Rehabilitation |
Le 500,000 |
$ 13,898 |
| |
Dealer agents (89) |
$ 1,000 –
$ 1,500 |
$111,250 |
|
SUB TOTAL |
|
|
$390,948 |
| |
|
|
|
|
TOTAL PROCEEDS |
|
|
$5,277,000 |
|
|
Kimberlite mining at night |
|
