[miningmx.com] – ZAMBIA’S mining industry was still unhappy with the country’s proposed corporate tax rate of 35% saying it would dissuade new investment by foreign mining companies.
Its Chamber of Mines has, therefore, recommended the corporate tax on income should be maintained at 30%, said Reuters which cited the organisation.
The provision for different royalties based on mining methods was also criticised by the chamber which said it did not take into account the peculiar challenges that both open cast and underground operations faced.
“It is recommended that the mineral royalty should be the same across the entire industry at 6%,” it said.
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