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Tax regime - Zambia Mining

Companies listed on the Lusaka Stock Exchange are levied at 30% of taxable income. You might be interested to read something about Zambia Mining Website. Relief from Income Tax Any investment in mining, including prospecting, attracts deductions from income tax on the following expenditures: capital expenditure: allowances of:

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Taxing the mining sector - Mining For Zambia

Mining taxes are, once again, a hot topic in Zambia. In her 2019 Budget speech, the Honourable Mrs. Margaret Mwanakatwe, Zambia’s Minister of Finance, announced the Government’s intention to increase royalty rates, along with a slew of other taxes and duties. This would be the 5th change to Zambia’s royalty regime in 6 ...

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Mining duties, royalties and taxes in Zambia - Lexology

04-07-2019  Income from a source deemed to be a Zambian source is subject to income tax. Corporate income tax (CIT) on mining companies is charged as follows: income from mineral processing carried out under a...

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Zambia tax regime unsustainable for mining sector

23-09-2019  “The 2019 tax regime’s key objective appears to be to increase the effective tax rate so as to raise tax revenue generation. Under the new regime, the effective tax rate for Zambian miners could be over 105% if the copper price surpasses $9 000/t, says the report. LEARN MORE: About the tax regime in Zambia

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Mining taxation policy in Zambia: The tyranny of ...

13-06-2019  Mining taxation policy in Zambia is unstable. Zambia’s policymaking in the area of mining taxation has been characterised by frequent policy changes and reversals. In the 2019 budget, slightly over half of the revenue measures proposed were directed at the mining sector representing yet another seismic shift in mining taxation policy. By one estimate, Zambia on average has had one tax change every 18 months since 2001 (Zambia Chamber of Mines

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Zambia: Tax measures included in 2020 budget - KPMG

Corporate taxation for mining activities—the mineral royalty rates, withholding tax rates, and tax loss carryforward rules would remain the same; there is a proposed reduction (from 25% to 20%) of the capital allowances deduction with regard to mining equipment and related capital expenditures, and a proposed reduction of the export duty on precious metals and gemstones.

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Zambia - Corporate - Taxes on corporate income

11-02-2021  Tax on mining operations* (for both base metals and industrial minerals**) Rate: CIT: 30%: Additional variable profits: N/A

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Zambia Country mining guide - assets.kpmg

For 2 decades, Zambia’s mining sector has experienced significant foreign interest and investment driven mainly by the privatization of state-owned Zambia Consolidated Copper Mines (“ZCCM”), a low taxation environment and low political interference. Zambia is in possession of some of the world’s highest-grade copper deposits.

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Zambia Mining Website Mining Industry in Zambia

The mining regulations in Zambia in the Zambia’s mining industry are mainly governed by the Mining Development Act No. 11 of 2015. Mining Companies in Zambia Mining companies in Zambia focus on excerpting copper and uranium, as well as gold, nickel and industrial deposits, which are more limited.

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A guide to mining taxation in Zambia - Africa Portal

revenues accrue to the Government. How to tax the mining sector has become a hot topic. Debate is healthy and should lead to better policy, but only if it is well informed. While much work has been undertaken on mining taxation in Zambia, it has been quite technical in nature.

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Zambia: Tax measures included in 2020 budget - KPMG

Corporate taxation for mining activities—the mineral royalty rates, withholding tax rates, and tax loss carryforward rules would remain the same; there is a proposed reduction (from 25% to 20%) of the capital allowances deduction with regard to mining equipment and related capital expenditures, and a proposed reduction of the export duty on precious metals and gemstones.

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Host Country Focus: Mining Tax Regime in Zambia - A ...

Host Country Focus: Mining Tax Regime in Zambia - A Helicopter View Kennedy Munyandi IBFD Manager, Africa, Middle East Latin America 19 June 2015

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Zambian Government issues 2020 Tax Amendment Acts

Executive summary. On 1 January 2020, various Tax Amendment Acts came into effect in line with the pronouncements made in Zambia's 2020 National Budget. The Minister of Finance had announced that the Government would be working on broader reforms aimed at increasing tax revenue and improving compliance. The 2020 Amendment Acts are as follows:

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Zambia : Mining Tax Changes aimed at getting maximum ...

30-09-2018  Lusaka - Zambia: PF Secretary General Davies Mwila says the changes made to the mining tax regime in the 2019 budget is aimed at deriving maximum benefits from the

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Zambia - Corporate - Deductions

11-02-2021  Mining expenditure (only available for assets brought into use) Mining deductions of 20%. Farm improvements. Farm improvement allowance of 100%. Construction and improvement of commercial and industrial buildings by person approved under the Zambia Development Agency (ZDA) Act. Improvement allowance of 100%.

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export.gov

Zambia - Mining and Minerals ... These include medicines, pharmaceuticals, veterinary supplies, medical equipment, computer parts, and chemicals in bulk, fertilizers, and seeds. Most goods fall into one of three tariff bands: 0-5% ... Import Value Added Tax (VAT) ...

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Tax Information – Zambia Revenue Authority

The rate of Withholding Tax is 10%. The payer ( tenant) is responsible for deducting Withholding Tax from gross rentals on the date of accrual of any amount due to the payee (landlord). The tenant should remit the amount so deducted to the Zambia Revenue Authority. This is the final tax.

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Zambian Mining News - The Premium Source of

12-03-2021  Zambian government has been urged to address impediments to investment inflows and production growth, and to guarantee stable tax policies. Zambia Chamber of Mines president Dr Godwin Beene this week said it was imperative to rectify negative investor perceptions of the mining sector in the country. “Our sector, like any Read More »

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Zambian Government issues 2021 Tax Amendment Acts

On 1 January 2021, various Tax Amendment Acts came into effect in line with the announcements made in Zambia’s 2020 National Budget. The 2021 Amendment Acts and Regulations are as follows: The Income Tax (Transfer Pricing) (Amendment) Regulations No. 117 of 2020. The Amendment Acts and Regulations seek to address the impact of the COVID-19 ...

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Zambia: Tax measures included in 2020 budget - KPMG

Corporate taxation for mining activities—the mineral royalty rates, withholding tax rates, and tax loss carryforward rules would remain the same; there is a proposed reduction (from 25% to 20%) of the capital allowances deduction with regard to mining equipment

More

Host Country Focus: Mining Tax Regime in Zambia - A ...

Host Country Focus: Mining Tax Regime in Zambia - A Helicopter View Kennedy Munyandi IBFD Manager, Africa, Middle East Latin America 19 June 2015

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Zambia Decides Against New Mining Tax

14-12-2009  Zambia Finance Minister Situmbeko Musokotwane said the main reason behind the decision was that the windfall tax could force some mining companies to shut down, according to Reuters. “Mining companies required time to recover from losses incurred due to heavy investments in equipment before higher taxation could be enforced,” Musokotwane said.

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Zambia implored to make tax changes - Zambian Mining

11-06-2021  Zambian government has been urged to address impediments to investment inflows and production growth, and to guarantee stable tax policies. Zambia Chamber of Mines president Dr Godwin Beene this week said it was imperative to rectify negative investor perceptions of the mining

More

Zambia : Mining Tax Changes aimed at getting maximum ...

30-09-2018  Lusaka - Zambia: PF Secretary General Davies Mwila says the changes made to the mining tax regime in the 2019 budget is aimed at deriving maximum benefits from the

More

export.gov

Zambia - Mining and Minerals ... These include medicines, pharmaceuticals, veterinary supplies, medical equipment, computer parts, and chemicals in bulk, fertilizers, and seeds. Most goods fall into one of three tariff bands: 0-5% ... Import Value Added Tax (VAT) ...

More

Zambia - Corporate - Deductions

11-02-2021  Mining expenditure (only available for assets brought into use) Mining deductions of 20%. Farm improvements. Farm improvement allowance of 100%. Construction and improvement of commercial and industrial buildings by person approved under the Zambia Development Agency (ZDA) Act. Improvement allowance of 100%.

More

Zambia cracks down on miners over tax Financial Times

Zambia plans to force companies to repatriate foreign currency earned from exports back to the southern African nation as part of an effort to crack down on tax avoidance, particularly in mining.

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Tax Information – Zambia Revenue Authority

The rate of Withholding Tax is 10%. The payer ( tenant) is responsible for deducting Withholding Tax from gross rentals on the date of accrual of any amount due to the payee (landlord). The tenant should remit the amount so deducted to the Zambia Revenue Authority. This is the final tax.

More

Zambian Government issues 2021 Tax Amendment Acts

On 1 January 2021, various Tax Amendment Acts came into effect in line with the announcements made in Zambia’s 2020 National Budget. The 2021 Amendment Acts and Regulations are as follows: The Income Tax (Transfer Pricing) (Amendment) Regulations No. 117 of 2020. The Amendment Acts and Regulations seek to address the impact of the COVID-19 ...

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Zambia Decides To Keep VAT, Amend Tax For Miners In

04-10-2019  Zambia announced that it will retain value-aded tax but strengthen its administration and make changes to the tax environment for mining companies in the 2020 Budget, released on September 27, 2019. The Finance Minister, Bwalya Ng'andu, said the Government had decided to ditch its plans to replace VAT with a sales tax, as announced in the 2019 Budget, following consultations with

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Zambia’s new tax regime exacerbating mining

23-09-2019  Zambia’s new tax regime has significantly increased the tax burden on mining companies, making the sector unsustainable and uncompetitive, states a report co-authored by Premier Consult ...

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Host Country Focus: Mining Tax Regime in Zambia - A ...

Host Country Focus: Mining Tax Regime in Zambia - A Helicopter View Kennedy Munyandi IBFD Manager, Africa, Middle East Latin America 19 June 2015

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Ninth Time Lucky: Is Zambia’s Mining Tax the Best

29-11-2017  The Zambia Chamber of Mines—the mining industry association—supports the proposed tax regime and had initially proposed the idea of a price-based royalty. However, industry watchdogs Publish What You Pay Zambia and Zambia Tax Platform oppose the changes and have urged the government to “consider engaging in a more consultative and participatory process in developing taxation

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Zambia Decides Against New Mining Tax

14-12-2009  Zambia Finance Minister Situmbeko Musokotwane said the main reason behind the decision was that the windfall tax could force some mining companies to shut down, according to Reuters. “Mining companies required time to recover from losses incurred due to heavy investments in equipment before higher taxation could be enforced,” Musokotwane said.

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Zambia cracks down on miners over tax Financial Times

Zambia plans to force companies to repatriate foreign currency earned from exports back to the southern African nation as part of an effort to crack down on tax avoidance, particularly in mining.

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CORRECTED-UPDATE 2-Zambia hikes mining taxes in

28-09-2018  The tax hikes will go down badly with mining companies, including First Quantum, Glencore and Vedanta Resources, which have frequently clashed with the Zambian government over rising operating costs.

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Zambia's finance minister says tax reforms needed to

03-05-2019  Zambia will pay off all outstanding legitimate VAT refunds, but plans to press ahead with a new non-refundable sales tax despite criticism from some businesses as it strives to cut debt, its ...

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Zambian Government issues 2021 Tax Amendment Acts

On 1 January 2021, various Tax Amendment Acts came into effect in line with the announcements made in Zambia’s 2020 National Budget. The 2021 Amendment Acts and Regulations are as follows: The Income Tax (Transfer Pricing) (Amendment) Regulations No. 117 of 2020. The Amendment Acts and Regulations seek to address the impact of the COVID-19 ...

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Zambia Fiscal Guide 2017/2018 - KPMG International

Dividends from companies carrying on mining operations: 0%. Profits distribution by branches of foreign companies: 15%. Winning from gaming, lotteries and betting (final tax) 20%. Debenture interest paid to Zambian investors in a property company listed on the Lusaka Stock Exchange: 0%

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