taxes

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phili675

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Message Ven 19 Avr 2013 08:31

taxes

J'ai joint les commentaires à cette annonce : les zambiens ne sont pas dupes.


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 Mutati explained that the 2008 mining windfall tax would have destroyed the mining sector if it had not been repealed.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.
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bingogo

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Message Ven 19 Avr 2013 16:25

Re: taxes

flag Rosco says: Rosco
April 19, 2013 at 8:56 am | Permalink

we are tired of crooks and sell out… revoke their mining licences and kick their as.s into orbit !

According to NGOs in its 2010 pilot audit by Grant Thornton, Zambia and Econ Poyry, Zambia lost an estimated income of USD 175 million in tax revenue between 2003 and 2008 from tax avoidance practices’ by Glencore AG International owned Mopani Copper Mines.
copper from Mopani is sold under a contract with copper in one instance being sold at 25 per cent of official prices at LME. In other words, they are not paying taxes over 75% of the copper sold to Glencore.
During the period under review, Action Aid estimates that the Zambians government lost an estimated USD 50 million per year in undeclared dividends to ZCCM IH by Mopani Copper Mines
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flag Rosco says: Rosco
April 19, 2013 at 8:58 am | Permalink

continued

During the period under review, Action Aid estimates that the Zambians government lost an estimated USD 50 million per year in undeclared dividends to ZCCM IH by Mopani Copper Mines, according to Action Aid was avoiding declaring anydividends by ZCCM IH through transfer pricing and over statement of the costs.”
“The auditors found that MCM resisted the pilot audit at every stage. The company’s book-keeping was incomplete, several legally required documents were lacking and the general ledger analysis showed several loopholes and couldn’t be matched with the trial balance,” the organisations stated. “The auditors also found an inexplicable doubling in the costs of the company between 2005 to 2007, which shows that the company has been artificially inflating its costs
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flag charlie diaspora says: charlie diaspora
April 19, 2013 at 12:04 pm | Permalink

@Rosco: Brill ! Thats just it. Mutati like most of these “Mzungu wanga technocrats” just forgets where he’s coming from. Where others travel to Switzerland and petition Glencore WITH the help of Europeans over this swindle( Good copper,Bad copper), the likes of Mutati only see themselves – if you can’t help the ordinary people, get out and earn a living out here. As for the most of us our hearts are still pa Zed but the government MUST give us DC, then we can get talking. ZCCM lost thousands of brilliant young zambians because of the same attitude from the likes of Francis Kaunda, Chileshe, Bwalya Ngandu..name them! At least David Phiri tried…Good point Rosco, bravo!
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phili675

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Message Ven 19 Avr 2013 18:06

Re: taxes

Il est certain que depuis bientôt deux ans , et malgré les belles déclarations d'intention, RIEN pour l'instant n'a changé officiellement pour Mopani. Ils continuent à exporter ce qu'ils veulent, comme ils le désirent , et déclarent ce qui les arrange..

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