The need for pre­dictabil­ity in Min­ing Tax regime as a driver for com­pli­ance, learn­ings from the ‘Nor­we­gian Oil and Gas in­dus­try’ – Dr Fun­danga...

Zambian Business Times - - FRONT PAGE -

For­mer Cen­tral Banker Dr. Caleb Fun­danga stressed the im­por­tance of pre­dictabil­ity in min­ing tax regime in Zam­bia as a driver for im­proved com­pli­ance. He said this dur­ing his speech at a book launch dubbed ‘Lift­ing the Veil of Se­crecy-Per­spec­tives on In­ter­na­tional and Cap­i­tal Flight from Africa.’ This is a book writ­ten by Pro­fes­sor Odd -Hedge Fjel­stad, Si­grid Klae­boe Ja­cob­sen, Peter Hen­riek­sen Ringstad and Pro­fes­sor Hon­est Pros­per Ngowi. The book high­lights the ef­fects of tax haven cre­ation and how this has im­pacted Africa ad­versely through cap­i­tal out­flows. The book fur­ther re­veals how African gov­ern­ments have failed to ad­here to tax regimes caus­ing fluc­tu­a­tion when­ever gov­ern­ments change. Dr. Fun­danga who is cur­rently Ex­ec­u­tive Di­rec­tor of the Macroe­co­nomic Fi­nance In­sti­tute – MEFMI in Harare ref­er­enced the Zam­bian min­ing tax regime which he said has been fluc­tu­at­ing with change of gov­ern­ment. Il­licit fi­nan­cial flows drain Africa of sub­stan­tial re­sources needed to fi­nance pub­lic goods and ser­vices.

For­mer Bank of Zam­bia Gov­er­nor and cur­rent Ex­ec­u­tive Di­rec­tor for the Macroe­co­nomic In­sti­tute for Fi­nance and Eco­nomics - MEFMI - Dr Caleb Fun­danga speaks dur­ing a book launch at South­ern Sun in Lusaka the cap­i­tal on 21 April.

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