New Govt plan to curb mines tax evasion



THE Zambia Revenue Authority (ZRA) has launched an electronic system, the Mineral Value Chain Monitoring Project (MVCMP), aimed at curbing illegal movements of minerals and tax evasion.

The system will also monitor and enhance revenue collection from the mining industry to be piloted among selected mines. The project worth Euros 4.7 million is sponsored by the Zambian Government, Norwegian government, European Union (EU) and the public finance management reform programme.

Other key implementing institutions are the Zambia Bureau of Standards (ZABS), Central Statistical Office (CSO), Road Development Agency (RDA) and the Patents and Companies Registration Authority (PACRA).

Speaking at the launch, ZRA commissioner of customs Dingani Banda said the project’s primary task was to design and implement a multi-purpose and multi-stakeholder scheme for the purposes of monitoring Zambia’s mineral resources through the value chain. Mr Banda said the MVCMP would also serve as a tool in development of Zambia’s national statiscal system by improving quality and availability of administrative registers that could be used for official statistics.

“The information that will be collected in the framework will only be reported once by the mines and subsequent sharing among all the relevant Government institutions,” he said.  Permanent secretary in the Ministry of Mines and Mineral Development Paul Chanda said the project, whose operations was under direct supervision of his ministry, would improve governance structure.

Mr Chanda said the overall objective of the project was to govern mining activities in the country.


Categorized | Business

Comments are closed.

Our Sponsor

Jevic Japanese Auto Inspections

Social Widgets powered by