Zambia tackles undervaluation of mineral exports

arnbethnic,
Zambia on Wednesday said mines ministry officials will, starting next month, personally collect samples from mine sites around the country to prevent mining companies seeking to undervalue their production to pay less taxes.  The ministry said some mineral exporters deliberately submit low-grade samples to the state laboratory, causing an undervaluation of mineral exports and depriving the government of mineral royalty tax revenue. AFRICA’S SECOND-LARGEST COPPER PRODUCER, ZAMBIA IS ALSO TRYING TO DIVERSIFY ITS REVENUE BASE BY BOOSTING ITS GOLD PRODUCTION “The loss of revenue could amount to hundreds of thousands,… Read More Here