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