Melo Media, Wednesday, 8th November, 2023
The failure of two major mining companies to pay mineral royalty tax has raised concerns among the Public Accounts Committee. During the period under review, the Ministry of Finance Permanent Secretary for Economic Management and Finance, Mr. Danies Chisenda, and the Zambia Revenue Authority ZRA Commissioner General, Mr. Dingani Banda, were criticized for their leniency towards these companies.
During a recent session, Members of Parliament emphasized that tax payment is a legal requirement that must be adhered to.
Additionally, the committee has been informed that these mining companies have not been declaring dividends, which has resulted in shareholders being denied a return on their investment.
The committee has raised questions about whether the Zambia Revenue Authority (ZRA) has been lenient with two major mining companies that are under government control. In response, the Permanent Secretary (PS) has denied these assertions and stated that the ZRA has been enforcing tax regulations without bias.
In response to this issue, the Commissioner General has suggested the implementation of a regulatory body for the mining industry. This proposed regulator aims to address and resolve the challenges surrounding the non-payment of Mineral Royalty Tax by mines.
