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Zambia's New Mining Tax Regime May Fail the Test of Time

After enjoying one of the greatest mining booms in its history Zambia is now suffering The price of copper—a metal on which much of the country depends—has fallen by half in the last five years The government is now faced with several tax-related challenges

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The Impact of Privatisation on the Zambian economy

been taxable the mining sector barely contributes at all As shown in Appendix 8 mining contributes less corporation tax than smaller sectors such as the financial services and telecoms sector The mining sector also claims back from the Zambian Government all of

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TAJ PAMODZI HOTEL TH NOVEMBER 2016

The mining sector is the main stay of the Zambian economy The average sector contributions to the country's foreign exchange is over 70% Zambia will continue to depend on mining for a long time to come However it is imperative that Zambia lessens its dependence on mining by diversifying the economy Diversification can be

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Zambia to slash royalties reinstate mining tax

24-6-2015Zambia's government is getting ready to cut royalties for underground mines below the recently revised 9% next week putting an end to a nearly nine-month standoff that has hit output and profits in Africa's second largest copper producer A return to lower levies should be a windfall for mining

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Zambia's new tax regime exacerbating mining challenges

23-9-2019Zambia's new tax regime has significantly increased the tax burden on mining companies making the sector unsustainable and uncompetitive states a report co-authored by Premier Consult Professor Oliver Saasa and The Zambia Institute for Policy Analysis and Research's Shebo Nalishebo According to the authors Zambia has the

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Battle lines drawn over Zambian mining tax

Zambia will increase a sliding scale of royalties in minerals by 1 5 percentage points and is introducing a new 10% tax on copper when prices exceed $7 500 per tonne Reuters reported The extractives industry accounts for about 6% of Zambian GDP with 92% of this coming from copper and cobalt mining

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Zambia scraps sales tax plan in concession to miners

27-9-2019Zambia will not replace its value-added tax (VAT) with a non-refundable sales tax Finance Minister Bwalya Ng'andu said on Friday a major concession to mining companies that fiercely opposed the proposal Zambia Africa's second-largest copper producer is grappling with high debt levels and the effects of a severe regional drought

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Tax regime

Mining companies in Zambia focus on excerpting copper and uranium as well as gold nickel and industrial deposits which are more limited For companies interested in mining operations or the opening of mining companies in Zambia the Zambian Ministry of Mines under which the Chamber of Mines is located is the first port of call

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Zambia scraps sales tax plan in concession to miners

27-9-2019Zambia will not replace its value-added tax (VAT) with a non-refundable sales tax as previously planned Finance Minister Bwalya Ng'andu said on Friday in a concession to mining companies that had fiercely opposed the proposal

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Africa Mining Zambian mining group says tax changes

Africa Mining Zambian mining group says tax changes will hit mineral exploration Zambia's proposed mining tax increases will hit mineral exploration and production in Africa's second biggest copper producer companies involved in exploration said on Tuesday

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Mining tax in Zambia

While technical terms such as "windfall tax" are frequently used by participants in the debate there is no common understanding of the term The full-‐length guide upon which this brief is based has been written to address this information gap and to inform one of the most important debates in Zambia

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Musonda Kabinga Yambani SJ Zambia VI Tax

Zambia VI Tax administration Compiled and ordered material prepared for future use argues that "collecting more tax revenue in Zambia especially from the mining sector will require the ZRA to employ more staff with experience" R Liebenthal (Personal Communication November 21 2014)

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Zambian Economist A new mining tax regime

The changes to the mining tax regime will however not apply to mining of industrial minerals That is geological materials which are are not sources of metals They are used as additives in a wide range of applications (e g limestone granite kaolin)

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Mining For Zambia

Mining for Zambia is an industry website aimed at promoting a better understanding of the Zambian mining industry It highlights key industry issues and shares information about mining and its contribution to the economy and society All the content except for external news items is free for use

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Property taxation capital gains tax and mining rights

6-2-2017Property taxation capital gains tax and mining rights tax in Zambia Current performance and options for reform Share this project The Government of Zambia has been undertaking series of tax reform measures since 2010 with the aim to broaden the tax base and increase revenue while promoting voluntary compliance by taxpayers

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Zambia Corporate

Zambia principally operates a source-based system for the taxation of income Income deemed to be from a Zambian source is generally subject to Zambian income tax However residence of a person/entity in Zambia will widen the scope of taxation to include interest and

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Africa Mining Zambia hikes mining taxes in 2019 budget

Africa Mining Zambia hikes mining taxes in 2019 budget to rein in debt The tax hikes will go down badly with mining com panies including First Quantum Glencore and Vedanta Resources which have frequently clashed with the Zambian government over rising operating costs

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Chamber of Mines disagrees with Ng'andu over 2019

Last Wednesday during his maiden briefing on the economy Dr Ng'andu said that Zambia's declining copper production should not be linked to the 2019 mining fiscal regime as the real factors were largely attributable to pricing and low grades of copper among other fundamentals But in

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Zambian mining group says tax changes will hit mineral

16-10-2018LUSAKA (Reuters) - Zambia's proposed mining tax increases will hit mineral exploration and production in Africa's second biggest copper producer companies involved in exploration said on Tuesday Zambia plans to introduce new mining duties replace Value Added Tax with sales tax

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Zambian mining group says tax changes will hit mineral

16-10-2018INTERNATIONAL – Zambia's proposed mining tax increases will hit mineral exploration and production in Africa's second-biggest copper producer companies involved in exploration said on Tuesday Zambia plans to introduce new mining duties replace Value Added Tax with sales tax

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State of Mining in Africa In the spotlight

(extending from the Zambian copperbelt to the Katanga region in the Democratic Republic of the Congo) firmly in the spotlight as a high-activity region In this year's edition of State of Mining in Africa – In the spotlight we take a further look at and reflect back on our observations to see how the broad industry is

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Zambia's mining tax regime

concerned about their current mining tax regime Some in the mining communities are calling for Zambia's copper to be left in the ground if its wealth cannot be harnessed for Zambia's development Now several years after privatization with skyward copper prices far exceeding production costs many

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Mining Sector

Zambia is Africa's largest producer of Copper and Cobalt Guaranteed input tax claim for five years on pre-production expenditure for exploration companies in the mining sector Any mining company holding a large-scale mining license carrying on the mining of base metals is taxed at 30%

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Zambia

PwC Zambia has over 150 professional staff working in the assurance advisory and tax lines of service The tax practice offers a full range of tax services covering all Zambian taxes with particular focus on inbound investment including in the mining banking consumer and

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TAX SYSTEM

TAX SYSTEM The Ministry of Finance and National Planning is responsible for the formulation of tax policy in Zambia and the implementing agency is the Zambia Revenue Authority (ZRA) The legislative framework relating to the regulation and administration of the taxation is provided for in the Income Tax Act 1966 as amended The source of

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Mining firms say Zambia's tax hike plan would ruin

Zambia's proposed mining tax increases would hobble Africa's second biggest copper industry companies said on Zambia's proposed mining tax increases would hobble Africa's second biggest copper industry companies said on Thursday a further warning to investors already concerned about the country's mounting debt

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Mining tax proposals will hurt mineral exploration –

Earlier this month Zambia Chamber of Mines president Nathan Chishimba cautioned that the proposed tax changes by government will put the country on a precipice of a deadly spiral that will damage the country hurt the mining sector and make the country "un-investable "

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Zambia's Mineral Fiscal Regime

Zambia's regime is a variant of a traditional royalty–tax regime in which the government charges a royalty and then imposes the generally applicable tax regime with perhaps special provisions for mining 4 There is a supplemental revenue charge (based on the ratio of taxable income to measured sales) as well as equity participation

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Mining 2020

It repealed and replaced the Mines and Minerals Development Act No 7 of 2008 The MMDA deals with mining rights licences large-scale mining in Zambia gemstone mining health and safety environmental protection and geological services on analysis royalties and charges

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The contribution of Mining to Zambia's development

Mining activities in Zambia in the 1960s and 1970s did not just contribute a lot to development but also towards civilization We cherish mining initiatives in those days which led to the development of recreational parks development and good organization of different kinds of games or sports

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