Tax policy review committee to be set up - minister

A Tax Policy Review Committee will be constituted to deal with transition to the new mining tax regime to ensure extensive and wide consultations over the tax policy implementation, Minister of Finance Margaret Mwanakatwe has said. Ms. Mwanakatwe said her ministry would remain open to dialogue with mining companies that were willing to amicably discuss the transition to the new mining tax regime, implementation of the sales tax and other fiscal and economic affairs. She said her ministry had taken note of the Zambia Chamber of Mines’ view over the matter and that it had received overwhelming communication from other stakeholders and that in collaboration with line ministries, doors were open for more consultations as the country transited to the new tax regime. “In view of the foregoing and in respect of our own plan to ensure a smooth transition, the Tax Policy Review Committee will be reconstituted and appointed to deal with technical issues related to tax implementation matters raised by the public. “The Ministry advises that consultations on sales tax policy implementation will be wide and extensive before commencement in April 2019,” Ms. Mwanakatwe said. She said her ministry remained committed to engage with various stakeholders over the matter to ensure that the implementation process was smooth. “Working with other stakeholder ministries and relevant government agencies, we remain open to dialogue with mining companies that are willing to amicably discuss the transition to the new mining tax regime, implementation of the sales tax and other fiscal and economic affairs, and future business cooperation matters. “The Ministry of Finance has taken note of the public statement made by the Zambia Chamber of Mines. We also acknowledge receipt of letters from some stakeholders, and the Chamber, seeking clarification on the new tax regime,” she said.