Finance Minister Alexander Chikwanda says government is putting in place various measures to ensure mining companies declare correct profits and pay corresponding taxes.
Mr. Chikwanda says the measures include increasing coverage and scope of audits, recruitment of mining engineers in the tax audit team and increasing capacity for officers through specialized training among others.
Speaking during the questions for Oral answer session in parliament this evening, Mr. Chikwanda revealed that the specialized training will focus on complex things such as transfer pricing and use of copper prices on the London Metal Exchange.
Mr. Chikwanda adds that the Zambia Revenue Authority -ZRA- is also collaborating with other agencies such as the International Monetary Fund and the Norwegian Tax Authority to enhance accountability.
He says most of the measures have been implemented since 2006 and are ongoing.
Mr. Chikwanda was responding to a question by Kalabo Member of Parliament Chinga Miyutu who wanted to find out measures employed by government to ensure mining companies declare correct profits and pay corresponding taxes as well as results of the said measures.