taxes
Mopani Mines commends PF government for not succumbing to pressure to reintroduce the windfall tax.
Time Posted: April 19, 2013 7:14 am
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Mopani Smelter in Mufulira
Mopani Mines has commended the PF government for not succumbing to pressure to reintroduce the controversial mining windfall tax.
Mopani Board Chairman Emmanuel Mutati says the current tax regime in the mining sector is favourable enough to encourage fresh investments.
Mr. Mutati explained that the 2008 mining windfall tax would have destroyed the mining sector if it had not been repealed.
The Board Chairman said the structure of the windfall tax was damaging to the sector as it was imposed on gross revenue unlike other countries to tax net profits.
He said the current mining variable and the mineral loyalty taxes are adequate to encourage the growth of the mining sector.
Mr. Mutati was speaking today when he met selected Business Journalists at Mopani’s new corporate offices on Alick Nkhata road.
He said Mopani Mine’s parent company Glencore has today invested over 2 billion US dollars in its operations in Zambia.
7 Comments
1
Mech Engines... says:
April 19, 2013 at 7:33 am | Permalink
It worries me when the learned Zambians entrusted to manage these foreign owned companies are the same ones who sell us out…. What a miseducated lot! Education has not changed the mindset
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2
. says:
April 19, 2013 at 7:36 am | Permalink
These chaps are reaping us of the cash. windfall tax is the only way we can benefit from these mines other wise all the monies will go outside. The issue that investors will run is a cheap & lame excuse, if they run lets run the mines our selves we just need proper management
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3
Paul says:
April 19, 2013 at 7:58 am | Permalink
Mutati you are a sell out, selfish b&^%t
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ndobo says:
April 19, 2013 at 8:01 am | Permalink
leave mutai alone!!, he is not a sellout. Sata is, one of the promises which copperbelt loved and voted for Sata was the promise is reintroduce windfall fax
4
Truth Hates says:
April 19, 2013 at 7:59 am | Permalink
A very good liar indeed. He is speaking as if he is not Zambian. Who does not know that the mines are reaping more than what they have sown? Please give us a break.
Peace and Prosperity to Mother Zambia.
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5
Fulunyemba says:
April 19, 2013 at 8:17 am | Permalink
Is Emmanuel Mutati a Zambian?
Just the name Glencore makes me shudder and start to cry, really sad!
“Don’t gain the world and lose your soul, wisdom is better than silver or gold” – Bob Marley
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6
San Jose says:
April 19, 2013 at 8:21 am | Permalink
Hearing this name ‘Glencore’ makes me sick. They have been accused of evading taxes and child mining in Congo.