By GIDEON NYENDWA
THE UPND government has not only let the Zambian economy suffer by giving a tax holiday to the mines but has also let Zambians down especially those who hoped for a better country when it assumed office, National Democratic Congress secretary general Charles Kabwita.
Mr Kabwita said the UPND government did the unthinkable by giving tax holidays to the mines, a move that has impacted negatively on the country’s economy.
He said there was so much dishonesty in the mining sector when it came to declaring profits and giving them a tax holiday for five years was like rewarding a thief for stealing.
Mr Kabwita said since time immemorial investors have been stealing from Zambians in the way they declare their profits in these mines.
He said giving a tax holiday to these mines was miscalculated by the UPND administration because it was like giving away the money that would have been used to revive the economy to the foreigners.
Mr Kabwita said Zambians had been of the hope that the new regime would come and repair the economy because they campaigned on that premise but it was so unfortunate that what was happening was different.
He said what was more painful was that the government had failed to justify the reasons why the mines were given a tax holiday and what the benefits of would be.
Mr Kabwita said the $2.6 billion tax revenue that was being lost due to tax holidays could make substantial changes to the country’s economy if managed well.
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