Maravi

(LUSAKATIMES) Government maintains stance on windfall taxes

COMMENT - What a retard.

Government maintains stance on windfall taxes
Tuesday, March 8, 2011, 8:13

Government has maintained its stance that it will not re-introduce the windfall taxes on mining companies. Finance and National Planning Minister Situmbeko Musokotwane said the windfall tax was an illusion and a mistake on the part of government.

Dr. Musokotwane said the scrapping off of such taxes on mining companies has been done in the best interest of the mining sector in the country. The minister said the move will in the next five years trigger about one third of government’s revenue collection from the mining sector.

He has assured Zambians of a fair share of wealth in the mining sector through other taxes that exist adding that it will not be fair to impose exorbitant taxes that no other country in world charges.

Dr. Musokotwane said government will be creating a problem by overcharging mining companies as this will discourage investment in new undertakings.

The minister was speaking last evening when he featured on a QFM’s Monday Nite Live program.

QFM

Labels: SITUMBEKO MUSOKOTWANE, STUPIDITY, WINDFALL TAX

posted by MrK @ 9:05 AM