THE non-deductibility taxation of mineral royalty between Government and mining companies needs to be resolved in an effort to transform the mining industry.This is an issue that had been going for quite some time with little progress in attaining consensus, Centre for Trade Policy and Development (CTPD) senior researcher-extractive Webby Banda said in a statement.“As the country went to the polls yesterday, it is expected that the political party that forms Government will transform the mining sector into a tool of national development.“CTPD wishes to note that this can only be attained if six critical issues facing the sector are resolved,” Mr Banda said.He said CTPD had dispensed a solution that was likely to instigate a win-win situation between the Government and mining companies by proposing that 50 per cent of the mineral royalty payable should be allowed as deductible expense to compute corporate income tax.Mr Banda said there was need to support the artisanal […]
GOVT MUST STREAMLINE MINING TAXES, SAYS THINK – TANK
