The Zambia Chamber of Mines says Zambia will not recover the lost taxes even with the new tax regime.
And Zambia Chamber of Mines President Goodwell Mateyo says it is commendable that some mining firms have rescinded on their earlier projection to lay off 21, 0000 workers owing to the newly introduced fiscal regime.
Our Copperbelt Staffer Alick Nyankata reports that the Zambia Chamber of Mines President said this during a public discussion organized by News Diggers in collaboration with Open Society Initiative for Southern Africa (OSISA).
Mr Mateyo said there need to engage government as the mines want conclusive engagement on this matter.
Mr Mateyo further warned that if stakeholders and government fail to conclusively engage each other it may gravely hamper the country’s economy.
He added that new taxes are likely to hamper the county’s quest to diversify the mining sector.
Mr Mateyo emphasized that regulatory environmental especially on ensuring consistency on the issues of taxes, is making Zambia not to grow and entice foreign direct investment.
And Zambia Chamber of Commerce and Industry (ZACCI) said taxation must be fair for the country to have a conducive environment to do business that will open up more investment.
ZACCI President Michael Nyirenda said government should show consistency in policy formulation if the mining sector is to grow.
Mr Nyirenda Zambia should not be taxing itself for prosperity but ensure that taxes are fair for individuals and companies adding that government should not use force in handling tax issues.
Meanwhile Mineworkers Union of Zambia President Joseph Chewe said the mining sector has lost of workers because of tax related issues.
Mr Chewe said mines always find it easy to lay-off workers every time they are faced with challenges.

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