By Chiwoyu Sinyangwe
Tue 22 Oct. 2013, 14:00 CAT
COMMENT - It is perverse that KCM, which owns Zambia's largest coppermine and is 72% owned by Vedanta Resources, is going to go after the salaries of their miners, in order to pay taxes. Neoliberalism is a disease, nationalisation is the cure. - MrK
THE Zambia Revenue Authority has discovered that KCM workers have been underpaying their Pay As You Earn (PAYE) due to "payroll system error" at the mining company.
Konkola Copper Mines (KCM) has effective this month, started deducting different amounts of money from selected workers and the period of deduction had not yet been established.
"Zambia Revenue Authority undertook a tax audit on Konkola Copper Mines Plc covering period 2006/07 to 2010/11 financial year. The tax audit covered Pay As Your Earn for all employees at Konkola Copper Mines" KCM vice-president for human capital management David Kaunda told workers in an internal memo.
"During the period under review, it was established that employees were under paying due to payroll system error. Therefore, effective October 2013, Konkola Copper Mines will effect deductions from affected employees who were in employment during the period under review."
Kaunda said exact amounts and period of deduction had not yet been established.
"Individual letters will be given to employees advising the exact amount to be deducted, and the period over which such deductions will be undertaken, taking into account that employees should not be adversely affected," said Kaunda in a memo dated October 17, 2013.
Labels: KCM, NEOLIBERALISM, PAYE
posted by MrK @ 4:51 PM
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