Tue, 27 Jun 2017 13:01:04 +0000 By BUUMBA CHIMBULU FAILURE to amend the 2015 Mines and Minerals Development Act has resulted in Zambia lagging behind in aligning its national laws and regulations to the Africa Mining Vision (AMV). The Centre for Trade Policy and Development (CTPD acting executive director, Isaac Mwaipopo, said the recent study conducted by the Tax Justice Network Africa, in partnership with CTPD, focusing on progress made towards domesticating recommendation contained in the Continental Mining Vision, indicated that Zambia was lagging behind other major mineral dependent African economies in aligning its national laws and regulations to the AMV. “The absence of clear policies and systems to curb mining companies’ practice of declaring the bulk of their investments as debt, and not equity, is eroding the country’s tax base. These gaps contribute to the high levels of Illicit Financial Flows (IFFs) from Zambia, which is currently estimated at about US$2.8 billion per annum,” […]
