Taxes - Copperbelt Katanga Mining

New effort maps taxes and fees to increase transparency in Congo's artisanal cobalt supply chain 1

Studies show that heavy taxes and complex administrative burdens encourage extortion, smuggling, and debt bondage. IMPACT is launching a new project tackling corruption in Democratic Republic of Congo’s (DRC) artisanal cobalt sector with an effort to map all the taxes and fees supply chain actors are legally required to pay. The Mapping Payments project, which is implemented in collaboration with the Congolese non-profit Action pour la Défense des droits humains (ADDH), kicked off last month with a workshop in Kolwezi, Lualaba Province—the town at the heart of DRC’s artisanal cobalt mining sector.… Read More Here

Mining in DRC Oil & Gas Taxes

DRC to Introduce two new Laws to Increase Tax Revenues from the Oil industry to $450M Annually

March 8, 2023March 8, 2023 Constance

The decree on eligibility criteria and methods for calculating losses and shortfalls (being finalized) and the one on the methods for fixing the price of diesel sold to mining companies in the southern zone (signed recently) will allow the Congolese Government to save nearly 157 million on the oil subsidy and the improvement of the taxation of the oil sector for an envelope estimated at 450 million USD/year, or 4% of the current revenue of the Central Power Budget. The Acting Minister of the National Economy, Nicolas Kazadi, indicated, during… Read More Here

Gold Mining in DRC Taxes

DRC Kibali Gold Mine Paid USD 1.2 Billion in Various Taxes and Royalties in 2022

January 31, 2023January 31, 2023 Constance

2022 has been a very positive year with strong quarter-on-quarter results for Kibali Gold Mine, one of the largest gold mines in Africa. During this year, the investment of Kibali Gold Mine in the Democratic Republic of Congo (DRC) exceeded the bar of 4.4 billion USD. And 1.2 billion USD was paid for various taxes and fees. This was announced by Mark Bristow, Chairman and CEO of Barrick Gold, during the 47th press conference held on Monday, January 30, 2023, in Kinshasa. According to him, nearly 2.4 billion USD was used to… Read More Here

Mining in Zambia Taxes

ZRA challenged to settle Mopani’s $110 million in VAT refunds

October 30, 2022October 30, 2022 Copperbelt Katanga News

The Zambia Revenue Authority – ZRA has been accused of selective payments of tax refunds after it emerged that some foreign owned mines Value Added Tax – VAT refunds liabilities are being paid off regularly while that of locally and state-owned mines such as Mopani Copper Mines are not being given the same treatment. The Zambian Business Times – ZBT has received information that ZRA owes Mopani Copper Mines about $110 million in VAT – refunds, but the rate at which ZRA is refunding the ZCCM IH majority owned mine… Read More Here

Economy Mining in DRC Taxes

No VAT collection on 38 basic necessities until April 2023 in DRC

October 23, 2022October 23, 2022 arnbethnic

After the Government of the Democratic Republic of Congo decided, on April 15, 2022, to suspend the collection of VAT on thirty-eight (38) basic necessities over a period of six months, the deadline has just expired. be pushed back to April 2023. According to a press release published by the Chief of Staff of the Prime Minister, Jean-Michel Sama Lukonde, the latter signed, on Saturday October 15, 2022, two Decrees suspending the collection of Value Added Tax (VAT) on certain products. first need. In accordance with these two Decrees of… Read More Here

Mining in DRC Governance Taxes

Here is the list of 14 taxes abolished in DRC and 20 other taxes affected by the reduction in their rates

July 26, 2022July 26, 2022 arnbethnic

The Government of the Democratic Republic of Congo (DRC) has decided to abolish 14 fiscal levies (taxes) and to lower the rate for 20 other import and export taxes. It is indeed a response adapted to the urgency of improving the business climate in a context of multifaceted crises due, among other things, to the effects of the Covid-19 pandemic and the harmful repercussions of the Russian-Russian conflict. Ukrainian. In their efforts, the Congolese authorities intend to make the Congolese economy more competitive and attractive in the sub-region in order… Read More Here

Mining in DRC Mining tax Oil & Gas Taxes

DRC: nearly USD 5.8 billion collected in taxes, duties, fees and royalties from mining and oil companies between 2018 and 2019

January 28, 2022January 28, 2022 admin

Between 2018 and 2019, mining and oil companies operating in the Democratic Republic of Congo (DRC) paid the public treasury in taxes, duties, fees and royalties, a total amount estimated at 5,849,113,365.66 billion. U.S. dollars. This is what the statistical yearbook of the Democratic Republic of Congo reports in its publication for the year 2020. According to this report, during this period under analysis, mining companies paid the Congolese State a sum of 5,456,810,153.31 billion US dollars, i.e. 2.9 billion USD paid in 2018 and 2.4 billion USD in 2019.… Read More Here

Taxes Mining in Zambia Mining tax

What do next year’s changes to the mining tax regime actually mean for Zambians?

November 30, 2021November 30, 2021 admin

Making Zambia a more attractive destination for investment is the number one shared priority of Zambia’s brightest financial brains. Investment in the country’s mining sector, in particular, has the enormous potential of putting Zambia back on a growth trajectory, with the direct economic benefits from new and expanded mining operations second only to the economic multiplier effects that can support and sustain generations of upwardly mobile Zambians, when the environment is right. Experts agree: Harnessing the potential of this critical sector requires that Zambia urgently implement global best practices, without… Read More Here

Economy Mining in DRC Taxes

Nicolas Kazadi delighted with the receipts achieved of 445 million USD in August- DRC

September 6, 2021 admin

Nicolas Kazadi presented Friday to the Council of Ministers the state treasury situation for the month of August 2021. In terms of revenue, 891.6 billion CDF were collected over the period, or 445 million USD. “Which is exceptional for this month of August, a month which has always recorded the weakest results in previous years”, said the Minister of Finance. Compared to the budget allocations for the month of August 2021, an achievement rate of 129% emerged. He explains this performance by consolidating the momentum for increased revenue mobilization. According to… Read More Here

Gold Mining in DRC Taxes

DRC: Deputy Minister of Mines launches workshop for the Tax reform project in artisanal gold sector

August 18, 2021August 18, 2021 admin

The Deputy Minister of Mines, Godard Motemona launched this Tuesday, August 17, 2021 at the Grand Hotel in Kinshasa, the workshop on the project of tax reform in the artisanal gold sector in the DRC, organized by the NGO Impact with the support of German Cooperation. The objective of this work is to promote a fruitful exchange on the activities carried out in the field in relation to the traceability of gold in Ituri called “Fair Gold” and to explain the content of the project “Tax reform in the gold… Read More Here