Government says it will not review its position on the windfall tax because a formular is already in place to collect mineral tax.
Finance Minister, Situmbeko Musokotwane, says the country will benefit from rising copper prices through a profit based tax formular.
He told ZNBC news in an interview in Lusaka that mines will continue to pay tax based on their profitability.
And Dr. Musokotwane said part of the money raised through the windfall tax has been included in this year’s national budget.
He said people are already benefiting from the windfall tax revenue through various budgetary disbursements.
Government withdrew windfall tax on minerals and replaced it with a profit based tax formular.
This was part of the measures to help the mines sustain operations following the fall in metal prices.
[ ZNBC]
This ain’t news!
Good as we can not keep operating in a flip-flop mode.
The mistakes MMD made by turning backwards on the windfall tax must just carry on. This MMD BACK MOVEMENT is a possible campaign message to the UPND Team.
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Prevention is better than cure.
Repair CB infrasture from that money instead of using it on your mid term allowance or whatever you call it,
why did they have to remove windfall tax when it was self regulating. If it had a problem why not revise it? MMD (Many Many Dunderheads)