Green Party reaction No.5 To budget speech: Proposed change to the mineral royalty tax regimeDear Editor, AS part of its direct taxes reforms for the 2022 budget, the UPND Government plans to “introduce the deduc[1]tability of mineral royalty for corporate income tax as[1]sessment purposes.” This measure is projected to trig[1]ger a revenue loss of K3.2 billion (equivalent to $190 million). Mineral Royalty payable or paid is a non-deductible levy for com[1]puting company income tax when arriving at the gains and profits of a person carrying on mining operations. Currently, mineral royalty rate regime payable is: (a) 5.5 percent of the norm value, when the norm price of copper is less than four thousand five hundred ($4, 500) United States dollars per tonne; (b) 6.5 percent of the norm value, when the norm price of copper is $4, 500 per tonne but less than $6,000. (c) 7.5 percent of the norm value, when the norm price […]