Thu, 13 Apr 2017 10:51:56 +0000 Govt urged to abolish unnecessary investor tax incentives By BUUMBA CHIMBULU GOVERNMENT should abolish unnecessary tax incentives for companies that end up depriving the country of revenue needed for economic growth, the Zambia Tax Platform (ZTP) has suggested. ZTP coordinator Kanguya Muyunda said certain tax incentives deprived the country of the much needed revenue which could be channelled to economic sectors. “There is need to abolish unnecessary tax incentives and create empirical data supporting or not supporting tax incentives which is causing us to lose significant amount of revenue, more especially in the mining sector, which is heavily incentivised,” she said. Ms Muyunda said at the Civil Society Organisations (CSOs) meeting in Lusaka that sectors such as mining were exempted from withholding taxes on the dividends they paid to shareholders. She explained that if mining companies made larger profits in future as copper prices recovered, then the revenue effect […]
