Categories: Business

Govt to engage Chambers of Mines over new tax regime

Finance Minister Margaret Mwanakatwe says the Tax Policy Review Committee will be reconstituted and appointed to deal with technical issues related to tax implementation matters raised by the public.

This follows some concerns raised by the Zambia Chambers of Mines with regards the changes made to the mining tax system for 2019.

Mrs. Mwanakatwe has also acknowledged receipt of letters from some stakeholders, and the Chamber, seeking clarification on the new tax regime.

She says her ministry remains open to dialogue with mining companies that are willing to amicably discuss the transition to the new mining tax regime, implementation of the sales tax and other fiscal and economic affairs, and future business cooperation matters.

“In view of the foregoing and in respect of our own plan to ensure a smooth transition, the Tax Policy Review Committee will be reconstituted and appointed to deal with technical issues related to tax implementation matters raised by the public,” states Mrs. Mwanakatwe.

The Finance Minister has also advised that consultations on sales tax policy implementation will be wide and extensive before commencement in April 2019.

More From Author

ACCA

https://www.accaglobal.com/africa/en.html

Read More

Economist @ Money 02 May 2020

Join the host and guest as they look at various economic issues.

Read More

Women @ Money – “Strategic Planning”

Listen to the host Nkhonde Fumbeshi as she discusses “Strategic Planning” with Dr Freda Mwamba…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

April food basket drops by K255.14-JCTR

This is compared to the March basic needs and nutrition basket which stood at K10,…

Read More

LCC warns traders against conducting business outside designated markets

LCC is deeply concerned about the recent trend of some traders opting to conduct business…

Read More

Electricity tariff hike to impact SMEs, consumers-Economist

The approved residential tariffs for consumption above 100 to 300 kilowatts per hour is K1.05…

Read More