The Lusaka Times report that mining firms are still adamant about paying the new taxes proposed by government but that their complaints have been rebuffed by MPs who will release a final report on Tuesday.
"The Chamber of Mines has strongly argued that the new tax regime will undermine operations and sustainability of the mining industry. Chamber of Mines General Manager, Frederick Bantubonse, made these remarks when his delegation appeared before the parliamentary estimates committee in Lusaka. The mining investors have proposed an urgent meeting with government to review the levels of taxation before effecting the new tax. Mr. Bantubonse and his team argued that the tax regime agreed upon through constructive dialogue will serve the interests of Zambians and the mining industry.
However, committee members led by Lusaka Central Patriotic Front Member of Parliament, Guy Scott critised the investors' delegation whom they accused of having returned to the committee in a very aggressive and confrontational manner. The committee members were concerned that the mining investors had not made any proposals on the levels of taxation on their second return to the committee.
This prompted committee Chairperson, Godfrey Beene to direct the delegation to go back and consolidate their proposals on the tax regime to be resubmitted by Saturday. The committte is expected to table its report on the proposed tax regime next Tuesday. The mining firms that were represented include Konkola Copper Mines (KCM), First Quantum Minerals and Chambeshi NFC among others."
No comments:
Post a Comment