A guide to mining taxation in Zambia - Africa Portal

Corporate Social Accountability. DA. Development Agreement. ETR. Effective Tax Rate. GDP. Gross Domestic Product. LME. London Metal Exchange. METR. Marginal Effective Tax Rate. PSA. Production Sharing Arrangement. VAT. Value Added Tax. VPT. Variable Profits Tax. ZCCM. Zambia Consolidated Copper Mines...

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

Jul 4, 2016 ... This presents the government of Zambia with a severe challenge. Officials must preserve mining revenues to fund the budget and avoid further mine closures and a drop in investment in the sector. In response to this challenge, the government has proposed a new tax regime as part of the 2017 budget.

Understanding the changes in the tax system in Zambia | Extractive ...

Jan 5, 2016 ... On 15 December, Zambia published their new EITI Report covering 2014. At the launch of the report, Christopher Yaluma, Minister of Mines and Minerals Development, stated that the EITI Report now includes information on the structure of the extractive sector in Zambia and the relevant legal framework,...

Zambia : Mineral royalty tax will boost Zambia's revenue – Yaluma

Apr 12, 2017 ... Lusaka - Zambia: MINES Minister Christopher Yaluma says the Mineral Royalty Tax introduced last year will help the Government achieve its mining ... The changes of that regime saw Mineral Royalty Tax (MRT) for open cast mines pegged at nine percent, brought down from the previous 20 percent, and...

TAXATION AND MINING INVESTMENT IN ZAMBIA

Nov 11, 2016 ... minerals. Increased copper production has contributed much to. Zambia's high economic growth rates. Recent geological analysis suggests that the deposits of copper in Zambia are larger than previously estimated. A new wave of investment in mining is needed to realise the potential of this wealth.”.

zambia mining fiscal regime - 2017 - Ministry of Mines and Minerals ...

ZAMBIA MINING FISCAL REGIME - 2017. The following sliding scale mining taxation applies for 2017: I. 4% of the norm value when the norm price of copper is less than $4,500 per tonne. II. 5% of the norm value when the norm price of copper is $4,500 per tonne or greater but less than $6,000 per tonne. III. 6% of the norm...

Mining tax in Zambia - IDS OpenDocs

With some of the worst poverty statistics in Africa, Zambia appears to have little to show for a century of mining. But given good .... would pay the same rates for company income tax and mineral royalty. The details in Table 1 relate to the tax regime that mining companies faced after. 2003. The agreements represented a...

MRT – Mineral Royalty Tax - Mining For Zambia

Mineral Royalties (MRT) are a standard part of the mining-tax regimes of many countries around the world, including. Zambia. In recent years, it has been a hot topic in Zambia, and with good reason. But, what is MRT? Why is it used, and how does it fit within the wider taxation regime? What are its defining characteristics?

Zambia's Mineral Fiscal Regime - International Growth Centre

II. Comparative Mining Fiscal Regimes. A description of Zambia's fiscal regime is found in Table 1. 2. Tables 2, 3, and 4 contain comparative information about the current structure of royalties, profits taxes, and excess profits taxes (and other matters), respectively, in a sample of countries. 3. Zambia's regime is a variant of a...

Report says Zambia needs more friendly tax regime to attract mining ...

Dec 15, 2016 ... Zambia needs a more competitive mining tax regime to entice new and existing investors to invest billions of dollars in the mining industry and boost flagging ... entitled 'Taxation and Mining Investment in Zambia', Chishimba says, despite recent welcome changes to the Mineral Royalty Tax (MRT), Zambia's...

Zambia's Mineral Fiscal Regime - International Growth Centre

II. Comparative Mining Fiscal Regimes. A description of Zambia's fiscal regime is found in Table 1. 2. Tables 2, 3, and 4 contain comparative information about the current structure of royalties, profits taxes, and excess profits taxes (and other matters), respectively, in a sample of countries. 3. Zambia's regime is a variant of a...

The rise and fall of the mining royalty regime in Zambia - CMI

Feb 1, 2016 ... Zambia has a long history of disputed changes of the mining tax regime with damaging effects ... regime. Since the 2006 elections, mining taxation has become a central part of a polarised political debate in Zambia. There is a strong perception among ... It became increasingly unpopular in the mineral-rich.

Zambia: Mines and Minerals Bill and Related Income Tax ...

Jul 8, 2015 ... (Pamela Chitulang'oma, Zambia: Mines and Minerals Development Bill Presented to Parliament, TAX NEWS SERVICE (June 30, 2015), International Bureau of Fiscal Documentation online subscription database.) The objectives of the legislation are reportedly to: revise the law relating to the exploration,...

Zambia: Parliament Makes Further Cuts to Royalty Rates on ...

May 23, 2016 ... This Global Legal Monitor article by Hanibal Goitom covering Mineral resources and mines, Mining, Natural resources, Taxation was published on May 23, 2016 for Zambia.

Capturing Mineral Revenues in Zambia - the United Nations

Capturing Mineral Revenues in Zambia: Past Trends and Future Prospects. Abstract. Abstract ... Our findings show that, if the 6 percent royalty rate and 30 percent corporate tax rate were applied in the ... There are three distinct periods of copper output and price movements in Zambia's mining history (see Figure 1). The first...

Fighting corporate tax evasion with data: The case of Zambia's ...

Dec 16, 2016 ... A glimpse into how Zambia's tax authority is making sure corporate investors pay their fair share. ... the donor-supported Mineral Value Chain Monitoring project in Zambia's Revenue Authority to improve the country's ability to collect tax revenue from the mining ... This initiative is trying to create a system.

Mining stakeholders welcome Zambia mineral royalty tax

Apr 15, 2016 ... Several mining stakeholders have welcomed the new Zambia mineral royalty tax, after it was revised in April 2015. ... In January 2015, newly inaugurated Zambian President Edgar Lungu revealed the country's new tax regime which at the time included increasing levies for open cast mines from 6% to 20%...

MINING TRENDS IN ZAMBIA (2008-2014)

Nov 7, 2016 ... INTRODUCTION. ® EITI is a global coalition of governments, extractive companies and civil society organizations. ® Zambia joined EITI in 2009 and became compliant in 2012. ® The reason was to address the perception of the mining sector, and reduce poverty and under development. EITI. CSO. GRZ.

the university of zambia school of mines department of ... - Unza

Apr 22, 2016 ... Evaluation of Zambia's Mineral Taxation. Regimes: A Case Study of Lumwana Mine by. Webby Banda. (514703742). A dissertation submitted to the Department of Mining Engineering in conformity with the requirements for the degree of Master of Mineral. Science (Mineral Economics). University of Zambia.

Enhancing tax collection from mining in Zambia through effective ...

Enhancing tax collection from mining in Zambia through effective regulation and monitoring of mineral production ... The stenographer of the Ministry of Mines and Mineral Development, Ms Jean Mwenfa Simukonda, who was the first to issue an export permit using the new system, says using the digital interface has made...

Mining in Zambia - Wikipedia

Using the Fraser Index component covering taxes and fees specifically, Zambia is in the middle of African countries, on par with South Africa, worse than Botswana, but better than the DRC. Perceptions that the taxes and fees for mining in Zambia is attractive does not necessarily mean the fiscal rates are themselves...

Analysis on copper mining trends in Zambia - ZCCM Investments ...

Aug 30, 2016 ... The Zambian government has since proposed to implement a 3-6% band for both floor and ceiling tax rates pegged to the value of the minerals on the LME. But then this sounds almost like returning to the windfall tax which was abandoned in 2009 at the insistence of foreign mining companies.

Zambia - Taxes on corporate income

Detailed description of taxes on corporate income in Zambia. ... Under the Income Tax Act, Zambia has a source-based system for the taxation of income. Income deemed to be from a Zambian source is generally ... The rates applicable for mining operations (for both base metals and industrial minerals) are as follows:...

Mining Legislation and Mineral Development in Zambia

Recommended Citation. Ndulo, Muna (1986) "Mining Legislation and Mineral Development in Zambia," Cornell International Law Journal: Vol. ..... By 1963, this amount had risen to £ 97 million. A further disadvantage was that Northern Rhodesia could no longer determine its own rate of income tax. It could do nothing to...

Zambian Economist: A new mining tax regime

Oct 15, 2014 ... Over the past five years, mining companies including China Nonferrous Metals Co., First Quantum Minerals, Glencore, Barrick Gold and Vedanta Resources have invested more than $6 billion in Zambia, breathing new life in the country's hitherto struggling mines. But recent tax measures and fiscal policies...

Caught in a Trap: Zambia's Mineral Tax Reforms

Sep 12, 2015 ... This paper focuses on Zambia's experience to understand what determined the tax reforms there. In addition, it explores the successes and failures of the mechanisms used to ensure a stable investment environment in Zambia. The paper finds that contract clauses between mining companies and the...

Amendment of mineral royalty tax to save mines – Zambia Daily Mail

Jun 19, 2015 ... MARTIN KAPENDE AFTER an outcry from the Chamber of Mines, President Lungu directed the ministers of Finance and Mines to amend the 2015 mineral royalty tax system and make fresh recommendations on the policy to Cabinet by April 8, this year. Mr Lungu said, after receiving submissions from...

Zambia mining sector fiscal benchmarking and assessment

Jan 8, 2013 ... 3.1. Key features of Zambia's current mining sector fiscal regime. 4. 3.2. Cross-country comparison of headline rates. 5. 3.3. Benchmarking perceptions of the mineral fiscal regime. 6. 4. Challenges of effectively collecting and managing mineral revenues. 10. 4.1. How much mineral tax is Zambia collecting?

Mining Law 2018 | Laws and Regulations | Zambia | ICLG

Withholding tax on dividends declared by a company carrying out mining operations is charged at the rate of 0%. 13.2 Are there royalties payable to the State over and above any taxes? Mineral royalties for holders of mining rights are payable at the rate of 5% on base metals (except...

Zambia to Roll Back Copper Mining Taxes - WSJ

Jun 24, 2015 ... Zambia's government will roll back contentious mining taxes next week, backing down from a standoff that hit profits and production in Africa's ... these companies has become a litmus test for dozens of African countries seeking to balance compensation for their mineral wealth with conditions that will attract...

Zambia Mining - Zambia Invest

Overview of Zambia Mining Sector and its main minerals including copper.

Zambia mining industry tax regimes stakeholder dialogue - IM4DC

Jun 30, 2015 ... Zambia Mining for Development Alumni (ZAM4D), with support from IM4DC will hold a one-day stakeholder dialogue on 30 June in Kitwe, Zambia. ... The government on the other hand claims that a single tier mineral royalty tax is straightforward and easier to administer unlike the corporate income tax...

Country Correspondent Twivwe Siwale On behalf of the Zambia ...

On behalf of the Zambia Revenue Authority, I wish to give the highlights of the key tax changes ... continues to be a vital sector in Zambia's tax policy space. The first change in the extractive sector related to the rate of tax charged on income from mining operations. ... The second change relates to the mineral royalty regime.

ministerial statement on the status of mining taxation - National ...

the people of Zambia; and. (c) secure an appropriate return on investment for the new mine owners. Mr. Speaker, this august House will also recall that when the. Government provided tax incentives in 2000, which included the reduction of mineral royalty rate from 2 percent to 0.6 percent and company income tax from 35...

Zambia Mining – Getting The Deal Through – GTDT

Zambia's mining industry is principally regulated by the government through the Mines and Minerals Development Act No. 11 of 2015 (the Mines Act), which ... An amendment to the Mines Act, introducing a new mining tax regime based on a sliding mineral royalty tax was made in 2016. A discussion of the new regime is...

First Quantum Minerals (FQM) Archives - Zambian Mining News

Zambia's largest miner First Quantum are up in arms against the revised mineral royalty taxes saying the proposal to review the regime will have devastating impacts on the Country's Mining Sector and capital investments as well as new projects. Recently, the mining company announced plans to put aside its planned …

Zambia, the copperbelt under pressure | Southern Africa

Jan 30, 2015 ... The Zambian government plans to revise the tax system and raise royalties to triple revenue from the mining sector by 2017 and prevent tax evasion. ... According to industry sources, Zambia risks losing as much as $2.5bn in foreign direct investment as a result of the mooted mineral royalty as well as...

the taxation system in zambia - Tax Justice & Poverty

reduce taxable profits in Zambia. • The Mineral Royalty rate for copper and cobalt was increased from 0.6% to 3%. In addition, henceforth it was to be based solely on gross sales value using the LME price instead of the price claimed by the mining companies. This ensured that mines could not avoid taxes by understating...

News - AZMEC

Unfortunately Zambian suffered an negative backlash in the Frazer Institute's Annual ( Survey of Mining Companies) Report for 2015 due the government's policies over the mining tax regime particularly mineral royalties. However, It is expected that Zambia will re-bound strongly in 2016 as a result of the government's latest...

How Zambia is losing $3 billion a year from corporate tax dodging

Extracting minerals, extracting wealth. How zambia is losing $3 billion a year from corporate tax dodging. 02. Contents. Executive Summary. 03. 1. Zambia: revenues from mining. 04. 2. Corporate tax avoidance. 06. 2.1 Glencore. 07. 2.2 Vedanta. 10. 2.3 Associated British Foods. 12. 3. Tax evasion. 13. 4. Tax incentives. 14.

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