What are the key terms of Firestone Natural Rubber Companys 2008 business agreement with the Liberian government?
The most important aspect of the agreement is that it benefits all parties. It serves the interests of the government, the Liberian people, Firestone Liberia, its employees and their families. Another key element is a focus on jobs. Firestone directly employs nearly 6,500 Liberians, and those jobs help create thousands of additional jobs in the country. The agreement provides Firestone the stability to continue investments in retaining those jobs. The agreement also provides the stability Firestone needed to develop and launch its new rubberwood business, a value-added operation that will create a minimum of 500 new jobs. Job creation is crucial for Liberia, where more than 80 percent of the population is unemployed. Fiscal constancy is a third key element of the agreement. The agreement moderately increases and stabilizes the income tax rate payable by Firestone, which has been among the country’s largest taxpayers for more than 80 years, as well as establishes new transfer pricing pr
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