People

• Population: 1,084,971 (July 2007 estimate)
• Languages: Tetum, Portuguese, Indonesian, English, local dialects
• Ethnic Groups: Austronesian (Malayo-Polynesian), Papuan, small Chinese minority

Geography

Timor Leste is located in the Timor Sea, northwest of Darwin and bordering Indonesia.

Economy

• Currency: US Dollar (USD)
• GDP per capita (2005): USD 800
• GDP growth: 22%
• Exports: Coffee

Government

• Government: Republic
• Head of State: H.E. Jose Ramos Horta

Exchange control

There is no exchange control set up in Timor Leste; however ANZ adheres to a strict money laundering policy.

Banking regulations

Any bank in Timor Leste is regulated by the Banking and Payments Authority (BPA).

Taxation

All businesses are required to pay income tax in instalments. These instalments are used as a credit for full or part payment of the businesses’ income tax assessments.

For more information please contact the Ministry of Planning & Finance, Timor Leste Revenue Service in Dili.