The Minister for Finance says government does not need to consult tax payers when effecting new taxes.
Ng'andu Magande told ZNBC news, that every tax payer is required to obey the law and pay taxes once they are enforced.
Mr. Magande was reacting to sentiments by some mining companies which are opposing the new tax regime for the mining sector.
He said those opposing to taxes will be visited by law once the taxes come to effect.
Mr. Magande wondered why some mining companies are concerned over the new taxes even when they have not yet started operating.
[ZNBC]
I perfectly agree with the Hon. Minister. The law should take its course against those who infringe it regardless of their economic power and influence.
That is the way to go Magande!
Good on you Magande and please stick with that till these greedy multi national corporations see the need to share with us. Good onya man
Magande just remaind those infestors that no one is above the law……
THAT IS THE SPIRIT MAGANDE, ITS HIGH TIME WHEN THESE GUYS DID THE RIGHT THING(PAY TAX).
I’m not supporting these bazungu and mwenye mine owner’s but pls mwebantu, when you enter into an agreement, the least you can do is abide by the stipulated guidelines! Hence Magande needs to tread carefully. It’s not the mining companies fault that we screwed up on the initial DA’s (I wonder which lawyers were our advisors on this one). That’s why i’ll never forgive Kafupi the midget, becoz of him we are now screwed. These cahps have every right to sue us for millions of $. It’s like you marry in church, then later decide to sneak another woman into the home without madam’s consent? clearly you’ve abrogated the initial agreement and you need to humble yourself and compromise!
We are the ones who gave the bazungu’s and mwenye’s tax concessions for many years, so why are we complaining? We shafted ourselves by entrusting the running of the country to a former bus conductor midget (form 2 failure) with questionable origins. FJT & Francis Kaunda need to burn @ the stake for this mess! As for Magande, good job mwana but pls tread carefully lest you end up shafting us further, we’re just recuperating thanks to HIPC, the last thing we need is another costly litigation battle.
Blameing FTJ wont solve the problem at hand. Its high time we moved on. When we were in FTJ’s era we blamed KK, so I think we are going to blame LPM after he leaves…… Lets correct the mistakes that our forefather made. It could have been the right thing at that time. But times have changed.
Peter Magande,the law is there to be followed and obeyed.make sure these chaps pay heavily.
Yayi, tax ni mwambo! whether some chap is annoyed oro not, it shall be excuted without regret. we can even pass a law to re-nationalise, which court in the international arena can sit to charge Zed of any wrongs? We have done it before,ask Super Ken how! Ask Gugo Shavez of Venezuela what he does with issues of oil? Mwilatina umwenso, Magande is ok, there is nothing to fear from correcting a wrong done by both parties. They pushed us into such a hopeless corner that we stopped thinking, but now, ahaaaa! Its our time! Nga balefwaya kuya bebele, bambi ekobali balelolela! You remember what Anglo American did when they pulled out without any regard to our nations fate? Let us now dictate terms!
Levy and Co. were telling us they were renegotiating the DAs with the mining companies.Was this a lie to take the heat off from the masses who were asking for a fair share of the proceeds from the copper sales? What is the truth?
That is my thinking too #11. Like Tarantino, I also question the content of the DA where it comes to revision of mineral tax. Has anyone read them to explain the content? If there are clauses stating that mining companies should be consulted before any tax revision then we have a problem. Most of the DAs were reviewed by mining company lawyers abroad who took into account various forms of risk. The investors knew that copper prices were going to rise because they have analysts who forecast price movements in the future. This is so similar to previous mistakes in the past. If only we strive to learn from our mistakes we will move forward.
If these companies dont want to accept our proposes they must leave minerals underground and we shall see who will suffer more especially now that we are in postmodern nationals why globalization and many alternatives of sources of capital are available. Anyone wasting our time can leave our country and look for sources of minerals somewhere else. Zambia shall start producing only for its consume.
Finally the MMD has seen the PF right on mines.
Hi,
The issue of mineral royalties is one that is very close to my heart. You see, the minerals are a GOd-Given gift to Zambia, for heavens sake despite long hands thats the only thing we have.
It then should only be fair that we benefit and realsie developemnt from prooceeds generated from the mines…
Magande should not bow down to these nonsence I read in the paper today, there are no free things. Any Country would do the same, the natives need to benefit from investment.
To start with even this London Metal Exchange thing is crap! How does the one buying dtermine the prize… Neocolonism or what is the softer word for it?
VIVA Magande! Abash Economic Imperialism!
LEVY, you are in TOTAL CONTROL with TOTAL SUPPORT FROM WELL MEANING ZAMBIANS. Even the “THE PRESIDENT WHO WILL NEVER BE” agrees with Magande. IF EVEN “SATAna” can agree, WHY NOT ALL THE “ZAMBIANas”.
For ZRA and CRITICLES MWANSA, tell your “FRIENDS” that you mingle with in Pamodzi Hotel or where ever, ALAS, this one is beyond you, you cant help them, Zambians have decided to “GET THE BENEFIT OF PAYING TAX”
For Magande, TELL THEM YOU ARE MERELY ANNOUNCING AND IMPLEMENTING WHAT SHORT SIGHTED CHILUBA kept postponding for TEN (10) LONG YEARS OF SUFFERING, PAIN, SORROW AND ANGUISH for the Zambian people.
For you Levy, tell CECIL HOLMES to tell them that INSHIMBI NI NSHIMBI, FINISH, CHAPWA.
NO RETREAT NO SURRENDER!!
FOR ONCE MAGANDE AND CHUCHU’S GOVERNMENT HAS MADE ZAMBIA PROUD OVER MINE TAXES. BAMAMBALA BA MWISA BATULILA SANA PAMITWE. ITS TIME MINES/ OUR NATURAL RESOURCES STARTED CONTRIBUTING TO ZAMBIA’S DEVELOPMENT. TAX IS NOT NEGOTIABLE!!
#10 ZOZO, RE-NATIONALISATION BY WAY OF LISTING OVER 50% MINE COMPANIES SHARES FOR INDIGENIOUS ZAMBIANS ACQUISITION IS THE NEXT STEP IN 2009. We have enough money collectively to capitalise the mines. We should have a NATIONAL vision to completely take over by 2020!!!!!
No doubt about the mines paying more, the CB should start looking great again. I just hope we do this properly, otherwise I see ourselves running back to the same chaps to buy our mines again after (again) failing to run them, if the current owners opt out.
#18 Where will they go? Name me one country where Mineral royalties are pegged at 0.6% and corporate tax is less than 30%?
Chiuta wabe namwe bana bakwithu, these investors balije dango. They just want to maximise at all cost, they choose not to see sense and fairness in the Devine Tax, give to Ceasor what belongs to him! Sono usange banakhwesa, kuchaya waka chibakela mumanyuma mbwenu China wanjila! No matter how loud they cry, we are never going to be in a similar fix like the one we have just survived soon. Zim cant compare to Zed, all the cash in Zim was in the hands of a cartel of white farmers, when they squeezed Bob, they left with the cash. But with zed, when they leave, copper will remain behind and other chaps will come proposing again. Ask beautiful ladies what it means to be proposed by many at a time!
the last two years all the mine’s benefit was invested in the mines ! and 2008 will be a good year for benefit and taxes for the GRZ.
i don’t understand why the grz forget to explian this situation !
The mining paied little tax caus the mine invested the benefit.. that else..
if zambia want more investissors, the country won’t to take all the benefit ! 79 % when the copper price is hight.. no more investissor wants to take this risk …