Tax Justice Network Africa expert, Mtwalo Msoni has advised government to evaluate the cost and benefits of granting a suspension of import duties on copper concentrates.
Mr. Msoni has also advised the government on the need to evaluate the cost and benefits of granting a suspension of export duties on precious metals, and it’s impacts on the much-needed domestic revenue considering Zambia’s largest precious metal export is Gold, which has seen decade-record high prices.
Speaking during the during the two day international conference dubbed big conversation on domestic mobilization from African mineral wealth Held on the Theme “Repositioning the Africa Mining Vision as Robust Domestic Resource Mobilization Tool Post COVID-19” in Lusaka today, Msoni said Double taxation agreements that have been signed need to be revisited, Bilateral investment treaties need to be reviewed.
He added that while Zambia has made several changes to it’s taxation regime on mining, most of the changes have been focused on copper mining.
He said that there is a need for the Zambia Revenue Authority to reconsider the structure of its Transfer pricing unit.
He added that the restructuring should consider maintaining its current approach of embedding transfer pricing specialists within the mining and non-mining audit teams, rather than moving to a stand-alone transfer pricing unit.
Mr. Msoni has noted that there is a need to expand the scope of monitoring of mineral production to all mining right holders to establish the extent of non-payment and underpayment of mineral taxes in Zambia.
