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.