Guinea

Guinea is an important producer of bauxite, gold, and diamonds, with large untapped reserves of iron ore. The mining sector contributes significantly to government revenues, mainly through Corporate Income Tax and mineral royalties. In 2017, it contributed to 32% of total government revenues. Guinea’s mining sector governance improved in the 2019 country update of the Resource Governance Index.

Main Minerals

  • Bauxite
  • Diamonds
  • Gold
  • Iron ore

What Are We Doing in Guinea?

In December 2019, we began our engagement with Guinea to provide technical assistance to address BEPS risks in the mining sector.

Legal and Policy Support

The main items include recommendations to align the transfer pricing documentation rules with OECD's Action 13 (country-by-county reporting) and improve transfer pricing documentation. 

Trainings

The program includes support to the Ministry of Mines and Ministry of Budget to develop a long-term approach to bauxite pricing. A range of capacity building activities will include trainings on transfer pricing. 

Audit Support

The Minister of Budget has expressed interest to engage with Tax Inspectors Without Borders.