By BUUMBA CHIMBULUTHE Mining Industry owes Government in excess of K19.68 billion in unpaid tax revenue, a Daily Nation investigation has revealed.This is contrary to claims by the Zambia Chamber of Mines (ZCM) that Government owes the industry US$1 billion (equivalent to K18 billion) in unpaid Value Added Tax (VAT).The Chamber has now been accused of making false and inflamatory statements intended to undermine Zambia as a credible investment destination.Government sources have slammed the Chamber for the unfounded claims which had the potential to harm the economy in terms of investor confidence and undermine tax compliance in Zambia.In a document titled “A policy brief for a post Covid-19 Zambian Economy: The road to Recovery“, the Chamber of Mines claimed that Government through the Zambia Revenue Authority owed the mining industry in excess of US$1billion in unpaid VAT refunds.But investigations conducted by the Daily Nation Newspaper have revealed that claims from Zambia Chamber of Mines were […]
MINING TAX DEFICIT SHOCKER
