ZRA urged to publish the recently completed audit for mining companies

The Zambia Tax Platform has called on the Zambia Revenue Authority (ZRA) to publish outcomes from the recently finalized audit of mining companies.

ZRA recently launched a tax probe after the authority unearthed a scam alleging that one of the giant mining companies had evaded paying tax worth 7.6 Billion United States Dollars.

In a follow up statement, ZRA announced in May that it had completed a full customs audit for all major mining companies in the country and further promised to update the nation on the status of the audit.

The Zambia Tax Platform says it is important that ZRA lives up to its promise and commitment to share the findings of the said audit.

“It is the hope of the members of the Zambia Tax Platform that through tax audits like the recent one conducted by the authority, the country would make progress in combatting negative development vices such as illicit financial flows and also enhance domestic resource mobilization,” says Zambia Tax Platform Chairperson Lewis Mwape.

“It is a well-known fact that Zambia is one of the world’s most resource endowed countries with vast mineral deposits, extensive arable land and water resources,” Mr Mwape said.

“In terms of extractives, the country has been commercially mining for over 100 years and expectations are that it may carry on for some years to come as it has continued to make new discoveries leading to further attraction of Foreign Direct Investments into the sector.”

“However, regrettably, ZTP notes that despite having attracted Foreign Direct Investment (FDI) in excess of US$13 billion in the mining sector over the last 10 years, these investments have not translated into corresponding socio-economic development for the country.”

Mr Mwape said local beneficiation from mining proceeds remains pipeline dream, especially for mine host communities.

“The other greater challenge has been the failure by government and other players to support the structural transformation of the mining sector so that it can be linked with the local economy,” he said.