Zambia’s new mining tax regime is final – Chikwanda

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Finance Minister Alexander Chikwanda has maintained that the new mining tax regime is final.

Speaking when he commissioned the ZRA Mokambo Border housing project in Mufulira this afternoon, Mr.Chikwanda says the new mineral royalty based tax regime has intrinsic value of simplicity.

Mr Chikwanda says government is committed to maintaining the employment levels in the mining sector and ensure that copper export volumes do not decline and not least for all mines to stay afloat.

 

He stresses that government will discuss policy issues with mining companies pertaining to the new tax, while operational issues relating to taxation will remain an exclusive preserve of a specialized entity with an inescapable imperative of good governance.

Mr Chikwanda adds that various mining companies have in good faith argued that the existing laws do not provide enough or adequate mechanisms and incentives for large outlays of capital investment.

He says it is in this regard that government will give critical scrutiny to existing statues with a view to reinforcing or strengthening the incentives in order to enlist new investment which is a compelling need for mine development and innovations.

And speaking earlier, Zambia Revenue Authority Commissioner General Berlin Msiska said Mokambo Border has been experiencing an increase in traffic following the commencement of rehabilitation works on the pedicle road.

Mr.Msiska says the border clears an average of one thousand one hundred vehicles into the Democratic Republic of Congo and two thousand six hundred in and out of Luapula province per month.

He notes that with the workforce of over 1,509 ZRA has realized the importance of accommodating members of staff operating from far flung border posts.

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