By SILUMESI MALUMO SOCIALIST Party leader Fred M’membe has dared Parliamentarians to show their muscle and ensure that the Mineral Royalty Tax which is set to be done away with in 2022, is maintained to stop cheating in the mining sector.“Why such concessions? If Parliament has any spine, this is the time to show it,” he said.Dr M’membe said in an interview that the last 25 years, out of the eight major mining corporations that have operated in the country, only two companies have been paying Company Income Tax, meaning the rest have been declaring losses as tax authorities have no capacity to find loopholes in their tax declarations. He said base erosion and profit shifting seem to be very easy for these corporations. He said to maximise value from this sector, the Zambia Revenue Authority proposed the introduction of Mineral Royalty Tax to bring certain loss making companies on the tax base. “Mineral Royalty […]
M’membe dares MPs
