ZACCI calls for sustained tax framework

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The Zambia Chamber of Commerce and Industry (ZACCI) has called for a long term tax framework in the mining sector of about two-three years for the country to implement.

This is in response to the proposed increment of mineral royalty rates to 1.5 percentage points at all levels of the sliding scale according to the 2019 national budget.

Speaking in an interview with ZANIS in Lusaka, ZACCI President Michael Nyirenda said the longer tax framework will enable investors and mine owners to understand and appreciate government’s intentions and objectives.

“Currently the mine owners have received the development with mixed feelings because they did not anticipate it,” he said.

He explained that government needs to engage all the stakeholders in order for them to fully understand the development.

Mr. Nyirenda stated that if there was a tax framework, stakeholders would have planned ahead in order to avoid disruptions in their operations.

He added that there is need for more discussions with stakeholders in as much as government is looking for resource mobilization.

Mr. Nyirenda said there is need to look at taxation which allows growth in the economy.

Government announced the increment of the mineral royalty rates, saying that it is vital to structure an effective fiscal regime for the mining sector to ensure that Zambians will benefit from the mineral wealth the country has.

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1 COMMENT

  1. Utter nonsense! These mine owners have been mining for donkey’s years and understand our government and the countries they operate in far better than you think. Their primary objective is to make huge profits for next to nothing. They rely on our inability to run these mines ourselves and look for ridiculous incentives to give themselves enough time to take what they want. The only way Zambia can benefit from its natural resources is through tax, partnerships or outright ownership. The advances in technology have accelerated the rate at which these resources are being extracted so the benefits to us must be swift and now. If the mine owners are not willing to share our resources then let them go elsewhere. Zambia can pay its way through its resources.

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