By OLIVER SAMBOKOGOVERNMENT should urgently come up with a mechanism that will seal loopholes and stop mining companies from evading paying taxes and minerals loyalties, says Green Party (GP) president Peter SinkambaMr Sinkamba was reacting to revelations that billions of dollars were being siphoned out of the country by large mining companies in unreported profit remittances.He said “cooking” of figures by mining companies has resulted in the country losing huge sums of money in unpaid taxes and other statutory declarations.Mr Sinkamba said the creation of a department at the Ministry of Mines called the Mineral Accountability Department (MAD) to account for the minerals that are being mined and exported will help the country benefit from its abundant natural resources.He said this was the only way Government through Zambia Revenue Authority (ZRA) was going to know each ounce of minerals being extracted and exported.“Once this is put in place, we will be able to compare figures […]
STOP MINES’ LOOTING
