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Category: Mining tax

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
EITI DRC AFrewatch Mining in DRC Economy Mining tax 

ASADHO calls on DRC govt to carry out the necessary staffing for implementation of EITI activities

arnbethnic
The African Association for the Defence of Human Rights, ASADHO in its acronym, called on the DRC government to “finance the implementation of the EITI-DRC” to demonstrate its commitment to transparency and the fight against corruption in the mining and oil sectors.  “As of 18 July 2020, the President of the Republic, Mr Félix TSHISEKEDI, had appointed Mr Jean Jacques KAYEMBE as the National Coordinator of the Technical Secretariat of the EITI-DRC (…) If the President of the Republic has acquired his duty to appoint the National Coordinator, the Government… Read More Here
DRC Mining Code Mining in DRC Mining tax Taxes 

The Mining Cadastre presents the “Revised and Annotated Mining Code of the DRC”

arnbethnic
 On Tuesday, July 14, the mining land registry presented a book entitled “The revised and annotated mining code of the DRC” to further popularize the code with investors. The book was published under the direction of The Minister of Mines, Willy Kitobo. The ceremony took place in the blue room of the government building in Kinshasa. The objective, according to the Minister, is to enable the public, in particular, to “assimilate the meaning of the scope of the amendments and innovations” contained in this revised law. The Minister also recalled… Read More Here
zambian flag Mining in Zambia Mining tax 

Zambia continues to vex its mining sector

Copperbelt Katanga News
Today’s tensions over Zambia’s mines cannot be blamed solely on their new owners or previous administrations. The current government creates a climate in which the mines struggle to thrive. The government has introduced an impossible tax system, withheld $ 1.6 billion in unpaid sales tax, and accused the mines of tax evasion. It has also deliberately destabilized the energy sector, making electricity costs and transmission unpredictable. Glencore, owner of Mopani Copper Mines (MCM) since 2000, is struggling to get government approval to close the mines for care and maintenance, despite… Read More Here
Glencore Taxes Economy Mining in DRC Mining tax 

Glencore paid DRC Govt $614-million in 2019

arnbethnic
Diversified miner Glencore made payments of $7.7-billion to the governments of countries in which it operates in 2019. This includes $614-million paid to the Democratic Republic of Congo’s government in taxes, royalties and other payments.   Glencore paid Argentina $21.6-million, Australia $1.6-billion, Bolivia $10.9-million, Cameroon $5.3-million, Canada $51.4-million, Chad $88.6-million, Chile $235.6-million, Colombia $291.7-million, South Africa $96.6-million, Equatorial Guinea $65.9-million, Kazakhstan $414.2-million, Peru $417.1-million and Zambia $11.6-million. Thirty per cent of these payment contributions went towards adjusted effective tax rates, while $5.2-billion was paid in salaries, wages, social security and other… Read More Here
First Quantum Corporate social responsibility Mining tax Taxes 

First Quantum backs calls for mining communities to benefit from industry taxes

arnbethnic
First Quantum Minerals (FQM) supports a call from civil society for local communities in mining areas to benefit more directly from the tax revenue paid by the industry. A multi-stakeholder symposium held this week in Solwezi, in Zambia, called for a “fairer fiscal regime for the mining sector”, which facilitates a win-win situation for the government, the private sector and mining host communities. The gathering – the third of its kind – was aimed at sharing information about FQM subsidiary Kansanshi Mining’s work on social investment, sustainable community development, mining… Read More Here
First Quantum Minerals Copper Economy Mining in Zambia Mining tax 

First Quantum Minerals tops Zambian taxpayer list

arnbethnic
Copper, gold and zinc miner First Quantum Minerals (FQM) paid over K7-billion in taxes and royalties to the Zambian government in 2018, representing almost 40% of total payments made by the mining industry, making it the nation’s largest taxpayer. The 2018 Zambia Extractive Industry Transparency Initiative report, published in June, reveals that the majority of FQM’s taxes – amounting to K4.47-billion – were paid by its subsidiary, Kansanshi Mining. This payment alone accounted for about a quarter of the country’s extractive payment receipts for that period of K17.98-billion, based on… Read More Here

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