ZAMBIAN TAX AGENCY RESOLVES MINING INDUSTRY PAYMENTS DISPUTE

Zambia Revenue Authority has settled a dispute with some unidentified mining companies on outstanding taxes last month.

ZRA Commissioner-General, Wisdom Nekairo, has said the payments will probably boost total revenue to 16 trillion kwacha this financial year from 11.4 trillion kwacha in 2010.

Mr Nekairo has explained that ZRA has reached an agreement with mining companies that were in arrears and the mines have already paid 1.5 trillion Zambian kwacha this year.

He has however not disclosed which companies had made payments and this is amid some mining companies had disputed the amount the tax agency claimed they owed.

Authorities has said in February there may have been irregularities in the tax submissions from Glencore’s Mopani Copper Mines unit for the 2008 fiscal year.

Glencore said the audit was factually incorrect.

Mr Nekairo has also said Zambia plans to bring informal traders and unregistered businesses into the tax net to help boost revenue.