Maravi

(LUSAKATIMES) State will never re-introduce the windfall tax

State will never re-introduce the windfall tax
Tuesday, October 12, 2010, 7:48

Finance and national planning Minister Situmbeko Musokotwane has maintained that government will not re-introduce the windfall tax. Dr Musokotwane explaine that it is not possible to re-introduce the windfall tax on the mines as it is unreasonable. Following the announcement of the budget last Friday, stakeholders have questioned governments silence on windfall tax.

But the finance Minister said that Zambians should not mislead themselves that there is no any other tax from the mines. He observed that most people think that without the windfall tax, Zambia is not receiving any other tax from the mines. Featuring on national television this afternoon, Dr Musokotwane stated that Zambia’s windfall tax was too high and unreasonable.

He said that if Zambia introduces the windfall tax, it is likely to discourage investments in the mining sector in the end collapse it.

And Dr Musokotwane has clarified that the government has not forgotten about the youth in the country.

He said that despite the government allocating 10 billion kwacha to the youth, they are still considered in other programmes.

Labels: CORRUPTION, MMD, SITUMBEKO MUSOKOTWANE, TAXATION, WINDFALL TAX

posted by MrK @ 2:33 PM