Wednesday, May 16, 2012

(LUSAKATIMES) JCTR demands explanation for PF Government U-turn on Windfall tax

JCTR demands explanation for PF Government U-turn on Windfall tax
TIME PUBLISHED - Wednesday, May 16, 2012, 6:19 pm

The Jesuit Center for Theological Reflection (JCTR) has demanded an explanation from government over its u-turn on the re-introduction of windfall tax. The JCTR said that government should publicize its reasons for not re-introducing the windfall tax regime for the mines a u-turn on its campaign promises.

JCTR programmes manager for economic equity and development, Geoffrey Chongo said that it was unfortunate that the Patriotic Front government has Lost a golden opportunity to re-introduce windfall taxes because mining Companies after the PF’s victory, were ready to start submitting.

Mr.Chongo said that JCTR feels let down by the fact that the PF government has suddenly gone soft on windfall tax without offering a concrete explanation to the masses that voted them into office.

He said that JCTR was not against the government u-turning on its campaign promise to re-introduce windfall tax, but wants an explanation.

Speaking at a media workshop in Lusaka today, Mr. Chongo said that it was also unfortunate to realize how little the mining sector contributes to the country’s tax revenue considering how important the sector is to the country’s economy.

He said that there was still need for government and investors in the mining sector to strike a balance in sharing profits from the mines.

QFM

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