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Category: Mining tax

reverse charge accounting VAT bn Mining in DRC Mining tax Taxes 

DRC government opts for a “reverse charge accounting VAT” for miners

arnbethnic
The Council of Ministers of Friday, September 11 lifted the option, with regard to mining companies, for a “  reverse charge accounting VAT” on imports. Henceforth therefore, the import VAT of the miners will just be recorded at the customs level without the operators being able to pay it. “Regarding the suspension of the collection of import VAT, the government is proposing a switch to an accounting VAT for reverse charge. The mechanism would allow mining companies to no longer pay VAT to Customs but to indicate it on their tax declarations, ”said… Read More Here
Miners raise the problem of VAT refund to Félix Tshisekedi- DRC 1 Mining in DRC Mining tax 

Miners raise the problem of VAT refund to Félix Tshisekedi- DRC

admin
The demands of a number of issues that hamper the proper functioning of the mining industry in the Democratic Republic of the Congo were reviewed during a working session which brought together around the President of the Republic, Félix-Antoine Tshisekedi Tshilombo, the Prime Minister, Sylvestre Ilunga Ilukamba, mining operators, some members of the government and the governor of the Central Bank of Congo. The Minister of Mines, Willy Kitobo told the press at the end of the meeting, that it was essentially a question of discussing subjects that upset the… Read More Here
Zambia Chamber of Mines Boss Mining tax Economy Mining in Zambia Taxes 

Zambia Chamber of Mines reiterates their position on MRT

arnbethnic
After the Zambia Revenue Authority Commissioner-General Kingsley Chanda said the Chamber of Mines should not alarm the nation by issuing false statements on Mineral Royalty Tax. The Chamber of Mines says it will stand by what it earlier stated that the Mineral Royalty Tax dropped by 12 percent and not the six percent announced by the Zambia Revenue Authority. Responding to a press query, Chamber president Goodwell Mateyo said the chamber stood by its position. “I believe the Commissioner-General was referring to a report produced by the Chamber of Mines.… Read More Here
Albert Yuma FEC Mining in DRC Economy Mining tax Taxes 

FEC denounces the detention of economic operators following inquiries into compensation for import duties and taxes

Arnie
The president of the Federation of Congo Enterprises (FEC), Albert Yuma, in a correspondence on August 18, 2020, wrote to the Attorney General at the Court of Cassation to denounce the detention of economic operators in the context of the rights compensation file. and import taxes. “We have recently witnessed a wave of arrests of which economic operators are subject, which are systematically followed by detentions by the courts, for offenses in the context of compensation for operations linked to claims of companies on public authorities with those relating to… Read More Here
First Quantum Minerals 1 FQM Mining in Zambia Economy Mining tax 

FQM CALLS ON NGOs TO ‘GET IT RIGHT’ ON MINING SECTOR’S CONTRIBUTION TO DEVELOPMENT | ZAMBIA

Arnie
Zambia’s largest taxpayer, First Quantum Minerals, has called upon non-corporate actors to better acquaint themselves with the mining sector’s contribution to community development. The mining company said that inaccurate reports from some non-governmental organisations (NGOs) have been misleading and constitute the spreading of ‘fake news’. Such reports have the potential to unfairly damage reputations, and also tarnish their reputations as being the flag bearers of good governance/honest brokers. “We work hard to leave a lasting and positive legacy everywhere we work. Our corporate values dictate that we devote considerable resources… Read More Here
central-bank-of-Congo building Mining in DRC Economy Mining tax 

Mutanda Mining’s payment of USD 100 million in 2015 was a “regular operation”, according to a source at the Central Bank | DRC

arnbethnic
The governor of the Central Bank of Congo (BCC), Déogratias Mutombo, was at his office this Tuesday, August 11, a source inside the BCC confirmed. Faced with rumors about the arrest of the boss of the BCC in connection with 100 million USD paid by the mining company Mutanda Mining (MUMI). Our source maintained that Déogratias Mutombo did not appear at the Office of the Inspection of the Judicial Police of the Public Prosecutor’s Office on Monday. “No, the governor is in his office. He did not show up when he was… Read More Here
Chamber of Mines DRC Mining in DRC Economy Mining tax Taxes 

The Chamber of Mines denounces the suspension of VAT exemption on mining imports | DRC

arnbethnic
The Chamber of Mines and the FEC (Fédération des entreprises du Congo) denounces a series of measures taken by the Government which, according to them, are damaging the cash flow of mining companies and reiterates its firm desire to always work with the country’s institutions. for improving the economic climate. This is revealed in a communication sent on Wednesday, August 12. In its press release, the Chamber of Mines stated that mining companies, although hard hit by a difficult economic situation amplified by the negative effects of the Covid-19 pandemic… Read More Here
EITI DRC AFrewatch Mining tax Mining in DRC 

AFREWATCH suggests the inclusion of ETD and provincial declarations in the draft framework for EITI-DRC’s 2018-2019 reports

arnbethnic
The African Natural Resources Observatory (AFREWATCH) has just published, during this month of August, its analysis note of the draft framework for the EITI-DRC reports 2018-2020. The latter must determine the scope of application of the EITI declarations process, the collection and declaration tools as well as the reliability of the data. The analysis note is focuses on two main points: – the mining royalty and the SICOMINES mining project.  Regarding the mining royalty, AFREWATCH comments on the integration of provincial boards in the perimeter and believes that the DRC… Read More Here
ZRA Commissioner General Mining in Zambia Mining tax 

Mineral Royalty Taxes down 6%, says ZRA Commissioner General | Zambia

arnbethnic
ZAMBIA Revenue Authority (ZRA) Commissioner General Kingsley Chanda says the Chamber of Mines should not alarm the nation by issuing false statements on Mineral Royalty Tax (MRT) because there has only been a marginal reduction of six per cent this year.  And Chanda says the Authority will soon be launching tax payments on WhatsApp to make it easier for Zambians to pay taxes. Speaking when he officially opened the ZRA Service Centre at the ECL Shopping Mall in Kitwe, Thursday, Chanda announced that there was a reduction of six per… Read More Here
VAT Economy Mining in DRC Mining tax Taxes 

DRC Government Suspends VAT Exemption on Imports of Mining Companies

arnbethnic
  The Deputy Prime Minister in charge of the Budget, Baudoin Mayo Mambeke, on the decision by the government made at the 41st meeting of the Council of Ministers, has ordered “the suspension of the exemption from VAT on the imports of mining companies” within the framework measures to increase government revenue. In a correspondence dated July 31, 2020 and addressed to his colleague from Finance ministry, the Minister of the Budget wrote: “The Council of Ministers has decided, during its 41st meeting and within the framework of the mobilization of… Read More Here

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