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MINING TAXATION WILL BE STREAMLINED – MUSUKWA

By PETER SICHALI

GOVERNMENT is ready to dialogue on various complaints on taxation in the mining sector, Mines and Minerals Development Minister Richard Musukwa has said.

He said Government was ready to structure tax regime that would support international investment and benefit the citizens.

Mr Musukwa said the change of mining taxation policy 17 times in 21 years was not in the best interest of the country and Government would address the matter.

The minister admitted that there had been mistrust between Government and mining houses and added that the just-ended Mining “Indaba” was the start of a new chapter that would address all outstanding issues.

He said a technical team has been constituted to analyze the resolutions and come up with options that will ensure a win-win situation.

Mr Musukwa said there was need for segregation and ensure that Small Scale miners have a separate tax regime that promotes investment in the sector.

“We want to ensure that Zambians participate in the mining sector at large scale,” Mr Musukwa said.

He said Government was committed to addressing mining taxation that affect investment in the sector.

He said mining was an expensive undertaking that needed huge capital injection therefore could not avoid foreign investments.

“Government knowing that mining is key to economic development, will ensure there is a win-win situation for the players,” Mr Musukwa said.

Government, he said, would create a stable and predictable mining tax regime that would make investment in the sector thrive.

Mr Musukwa noted that the mining sector needed huge capital injection and Government could not avoid international players.

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