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Alba Iulia
Friday, September 25, 2020

Government Commended for revising mineral royalty tax

Economy Government Commended for revising mineral royalty tax

The North-Western Chamber of Commerce and Industry has commended government for revising the mineral royalty tax from 20 percent to nine percent.

Chamber President Josephine Makondo said the move taken reiterates government’s commitment to creating an enabling environment for investment in the country.

Mrs Makondo said the revised mineral royalty tax is one of the best economic policy actions that will pave way for normal operations to resume in the mining sector.

Mrs Makondo was speaking in an interview with ZANIS in Solwezi yesterday.

She said the uncertainty in the revised mineral royalty tax and prevailing low copper prices on the world market not only threatened jobs in the mining sector but the economy in mining towns as a spill over to other businesses and supporting industries.

Mrs Makondo said the move taken by government will create a conducive environment that would ensure sustainability of thousands of jobs.

She called for continuous dialogue between government and investors before any major policy adjustments that would affect the economy are made.

9 COMMENTS

  1. Please, let’s be serious. How can the adjustment from 20% to 9% be the best economic move by govt.??? When its the same govt. That increased it to 20%. If the govt is to create an enabling environment it must do more to fight corruption and ensure interest rates are low.

  2. Ms. Makondo suffers from cadreism induced amnesia.

    Let us not forget who has created problem in a first place.

    “Massaging” the truth to please political masters does not absolve current political administration from responsibility arising out from incompetent decision.

  3. With this incentive GRZ must now look at ensuring more Zambians are employed in these mines. There are too many exparts doing jobs that Zambians can do.

  4. Iwe Makondo, just shut up if you have no better things to say. You know how much revenue the govt will lose???. Govt planned to recruit more teachers and nurses this year. Makondo , if you do not know this will now not happen.
    Govt planned to lift the wage freeze. Makondo , this will not happen now.
    Govt planned to finish upgrading UTH and build another hospital in Lusaka. Makondo, this will not happen!

    And this Makondo says this is the best policy?????

    • Zambia is not going to loose but gain a lot from this move. What govt has done is simply create a win win situation wereby investors will continue doing business and pay taxes and keep people in employment.
      The ones who have lost are the opposition parties and critics because Pf is now go in to deliver.

  5. The people from North Western province have been crying for better roads and a University. Govt planned to rehabilitate the Chingola – Solwezi Road and build a University- College in Solwezi. I am not seeing these happening now with this loss of revenue. Are you ok in your brains Mrs Makondo???

  6. Can anyone of you critics tell me how much revenue Zambia was going to gain if mines were closed down and fail to attract other investors due to high mineral royalty tax amidst low copper prices.

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