By BUUMBA CHIMBULUZAMBIA is expected to record a minimum investment of US$2 billion this year following the reintroduction of deductibility of mineral royalty tax on copper by the Government in the 2022 national budget.The decision has been made to align mineral royalties with international practice and is envisaged to attract more investment, according to the Centre for Trade Policy and Development (CTPD) Head of Research, Boyd Muleya.According to Mr Muleya, the decision was also meant to increase copper production beyond 800,000 metric tonnes annually.He however observed that the reintroduction of the deductibility of mineral royalties for corporate income tax computation had been contentious, as seen from mixed feelings among citizens. “The reintroduction of deductibility of mineral royalty tax on copper is expected to bring a minimum investment of US$2 billion in 2022. The decision will however see a government revenue loss of US$182 million (K3.2 billion),” Mr Muleya said in his reflections on the 2021 economic […]
OVER $2BN INVESTMENT EXPECTED IN ZAMBIA
