By Jackson MapapayiImmediate past president for the Federation of Small Mining Association of Zambia (FSMAZ) Mark Kalemba says the removal of Mineral Royalties as stand alone revenue in this year’s national budget is retrogressive.Mr Kalemba states that the move demands all interest groups especially elected and traditional leaders in mining areas to petition government through the minister of Finance Dr Situmbeko Musokotwane to reverse the decision.He explained in a statement that Mineral Royalty revenue is not a tax, but a form of rentals or appreciation by the mining companies to the owners of the land where mining operations are taking place.He said the announcement by the minister of Finance during the presentation of the 2022 national budget in Parliament that Mineral Royalties will now be deducted from income tax, contradicts the true meaning of Mineral Royalties.He said naturally, the primary beneficiaries of Mineral Royalties are the owners of that peace of land where mining is […]
More bash mineral royalty rights modification
