December 03, 2008

Zambian opposition urges cancellation of mine taxes – Report

The Saturday Post reported that Zambia's opposition Patriotic Front party urged the government to abandon planned windfall and variable profit taxes for the mining industry because of the impact they may have on employment.

The newspaper cited Mr Michael Sata leader of Patriotic Front party as saying that the proposed tax regime may place current jobs at risk and threaten future expansion plans by mining companies.

The newspaper said that Mr Ng'andu Magande finance minister challenged the Patriotic Front to hold rallies in Zambia's copper rich northern region to explain how the new tax regime will affect the companies. He said that lawmakers have rejected proposals by mining companies to change the proposed taxes, which become effective on April 1.