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Category: Taxes

Néné nkulu_0 (1) Mining in DRC Taxes 

DRC government plans to ID all foreign workers in the country

arnbethnic
The Minister of Employment, Labor and Social Welfare, Néné Nkulu Ilunga, says she has found that the hiring of foreign workers in several Congolese companies is in violation of the legal and regulatory provisions in force. She informed members of the government on Friday August 28 during the 46th meeting of the Council of Ministers, considering that it was “necessary” to proceed with the identification of foreigners to remedy this problem. After debate and deliberation, the file was adopted subject to the application of legal provisions regarding the financing of 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
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
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
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
Musompo trading centre Economy Artisanal mining Mining in DRC Taxes 

The Inauguration of the Musompo Trading Centre set for August 2020 (Artisanal mineral market in Kolwezi) DRC

arnbethnic
The governor of Lualaba province, Richard Muyej, plans to inaugurate the Musompo Trading Centre in Kolwezi in 2020 to bring together, under a modern structure, the sellers of artisanal ores in order to better control this trade. He made the premier Year 1 speech under provincial government on Saturday, July 11. “We are continuing with the ambition of reforming the artisanal mining sector by commissioning the Musompo Trading Centre planned at the end of August 2020 and the servicing of the EAZs, in order to clean up the sector, empowering… Read More Here
Intergovernmental forum 111 International Mining in DRC Mining in Zambia Taxes 

Intergovernmental Forum calls for resource taxation re-evaluation

arnbethnic
The Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) has launched the Future of Resource Taxation, a new initiative aiming to improve the way governments collect revenue from the mining sector, specifically in developing countries needing to rebuild public finances in the wake of covid-19.  “The goal is to re-evaluate and improve the fiscal regimes governing the mining industry, which tend to be complex and difficult for governments to administer, especially in developing countries,” says Alexandra Readhead, IGF’s Lead for Tax and Extractives. Almost half of the senior decision-maker… 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

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