The project also aims to make forest industry as one source of business investment in Ethiopia. To make forest industry as one business area, it needs skill and knowledge to manage it properly. In addition to providing financial supports for selected low-income people in the selected areas, the project gives attention in promoting business models in the forest industry parallel to protecting the forest coverage.
In this regard, making the people at the grassroots level, beneficiary from the forest sector plays double role both in developing the forest coverage and protecting from unnecessary damages. According to GGGI the land rehabilitation project further aims to aware and support the community at grassroots level on forest management, environmental protection at the same time developing their benefit from the forest they develop and protect. Promoting forest development and forest business, supporting private investors engaged to the forest investment, establishing nursery stations, financial support for the low-income youth and women if they want to participate in forest business, rehabilitating affected areas from further damage, protecting 7, forest from damage and investing on river basin projects that help for the implementation of sustainable development goals are among the top priorities of the five year joint forest and environmental rehabilitation project, Gemedo reiterated.
The nursery stations that are expected to hire many youths and women will get due attention both in adequate financial support for the low-income people in the selected areas and in producing adequate seedlings for the rehabilitation project. In addition, since the community is still dependent in forest products for different consumptions, including energy, the project will try to provide only identified areas for this purpose to manage unwise deforestation.
The Deputy Director further stated that "we understand the significance of the new 10 year Perspective Development Plan of Ethiopian Government" adding KOICA will continue supporting Ethiopia's endeavors in achieving its development targets in different fields.
By submitting above, you agree to our privacy policy. In addition to KOICA's initiatives in other fields, the forestry development initiative is part of the programs for the achievement of the strategic actions in the country and it will continue its supports in the area. In this regard, Gemedo stated that "KOICA covers the financial budget and they want to see genuine result from the project and the major goal of the project is supporting the benefit of the society by increasing forest coverage of affected areas.
Hence, as to Gemedo for the successful achievement of the project, there will be strict follow-up and continuous reporting mechanisms.
With financial, capacity building, infrastructural and other supports, the joint project will become effective and achievable. Beyond investing in reforestation, rehabilitation and supporting communities to benefit from the forest industry, the project will also play its role in supporting Ethiopia's climate change struggle initiatives at international level by supporting the implementation of monitoring, reporting and verification MRV system.
The project will play its part in this regard by supporting Ethiopia's international promises in climate change mainly by capacity building, helping in appropriate reporting with international standards. Both owned and leased properties qualify.
Christmas tree establishment expenditures do not qualify for either the deduction or amortization. Similarly, the costs of planting trees in shelterbelts or windbreaks, or of planting trees primarily for nut production or for sale as ornamentals, do not qualify. If the recipient includes the cost-sharing payment in his or her gross income, the total reforestation cost including the amount reimbursed by the cost-sharing payment qualifies for both provisions.
Reforestation costs incurred under the CRP program, including the costsharing payments received if reported as income, are eligible for both the deduction and amortization if not deducted under IRC section Example: You own acres of timberland near your home and a second tract of 40 acres in another county 80 miles away.
No cost-sharing payments were received for either tract. Each of the two properties has a unique stand identifier and can be considered as a separate QTP. By using our website you are consenting to our use of cookies in accordance with our privacy policy. Toggle navigation. The site must be held by the taxpayer for planting, cultivating, caring for, and cutting of trees for sale or for use in producing commercial timber products.
Both owned and leased properties qualify. Christmas tree establishment expenditures do not qualify for either the deduction or amortization. Similarly, the costs of planting trees in shelterbelts or windbreaks, or of planting trees primarily for nut production or for sale as ornamentals, do not qualify. If the recipient includes the cost-sharing payment in his or her gross income, the total reforestation cost including the amount reimbursed by the cost-sharing payment qualifies for both provisions.
Reforestation costs incurred under the CRP program, including the costsharing payments received if reported as income, are eligible for both the deduction and amortization if not deducted under IRC section You own acres of timberland near your home and a second tract of 40 acres in another county 80 miles away.
You reforested. No cost-sharing payments were received for either tract.
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