Taxes - Copperbelt Katanga Mining

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

August 23, 2020August 24, 2020 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

Mining in DRC Economy Mining tax Taxes

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

August 15, 2020August 15, 2020 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

Economy Mining in DRC Mining tax Taxes

DRC Government Suspends VAT Exemption on Imports of Mining Companies

August 3, 2020August 3, 2020 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

Mining in DRC Mining tax Taxes

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

July 18, 2020July 18, 2020 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

Economy Artisanal mining Mining in DRC Taxes

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

July 18, 2020July 18, 2020 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

International Mining in DRC Mining in Zambia Taxes

Intergovernmental Forum calls for resource taxation re-evaluation

July 18, 2020July 18, 2020 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

Taxes Economy Mining in DRC Mining tax

Glencore paid DRC Govt $614-million in 2019

July 3, 2020July 3, 2020 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

Emeralds Mining in Zambia Taxes

Zambia’s 2019 copper output drops due to the taxes | Zambia

January 6, 2020January 6, 2020 arnbethnic

According to the report, Zambia’s copper output in 2019 had fallen due to the latest mining taxes which were also the main factor of less investment. Although there was a favorable market outlook for 2019, the copper production still dropped up to 100,000 tons from a year earlier, with a total output of around 750,000 tons, which was also caused by the shutdowns at Zambia’s copper mines and the low power supply. It was predicted that the downtrend would continue in the coming years. Read More Here