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Alba Iulia
Thursday, September 24, 2020

Mineral royalty revenue falls by 6%-ZRA Chief

Economy Mineral royalty revenue falls by 6%-ZRA Chief

The Zambia Revenue Authority (ZRA) says mineral royalty revenue raised between January and July 2020 reduced by six percent compared to the same period last year.

The agency says mining companies paid 2.35 Billion Kwacha in mineral royalty taxes between January to July 2020 compared to 2.5 billion Kwacha in the same period last year.

ZRA Commissioner General Kingsley Chanda says this is contrary to reports by the Chamber of Mines that there was a 20 percent reduction in payment of taxes to government by the mining companies.

Mr. Chanda was speaking in Kitwe during the launch of the Multi-Facility Service Centre at the Edgar Chagwa Lungu Mall.

And the ZRA Commissioner General has urged the Chamber of Mines to give correct information to the public to avoid damaging the country’s investment opportunities especially on matters of taxes that need confidentiality.

He said issuing alarming statements will have a negative impact on the Country’s investment portfolio.

Meanwhile, Mr. Chanda has further stated that mining companies paid 6.94 billion kwacha in different taxes overall between January to July 2020 compared to 5.7 billion in 2019 indicating a 27 per cent increase.

Mr. Chanda also said some mining companies recorded reductions in Pay as You Earn -PAYE- following the reduction in workforce

5 COMMENTS

  1. So this man is still employed by the Zambian govt…isnt he the one that was caught making deals with a Mr Nyela

  2. Unfortunate, however it is expected during these difficult times which have impacted the global economy. However, we shall persevere irrespective of covid. Kz

  3. This is a tax collection agency failing to target real taxdodgers. Does ZRA know how the boom in commercial property development is being financed? I don’t think Kingsley Chanda is interested in this subject.

  4. What do you expect when foreigners Who have no heart for the country are the ones mining the Gold and Diamonds? Watch Dr Arikana Chinmbori n will know what is happening on the African Continent resource wise.

  5. Edigar Chagwa Lungu has already got shopping malls named after him. What of late presidents Fredrick Chiluba, Levy Patrick Mwanawasa, Michael Sata and those around, founding father the great KK and Lupia Bwezani Banda. Zambians are dimwit shameless

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  6. Good digital tax environment being created by ZRA If Long-term General Tax Modeling is thought out to see the impact of various tax policies on both conventional and dynamic revenue estimates of tax policy implications on the size of our economy those potential behavioral effects of tax policy can be optimized to estimate the macroeconomic effects of tax policy on various revenue estimates Very lily

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