Business

Increase in mineral royalty tax to benefit Zambians

MINERS processing copper at one of the mines on the Copperbelt.

TRYNESS TEMBO, Lusaka
ZAMBIANS stand to benefit from the rich mineral resources endowment following the increase of 1.5 percent mineral royalty tax in 2019, Association of Mine Suppliers and Contractors (AMSC) says.
During the 2019 national budget, Minister of Finance Margaret Mwanakatwe announced that Government will increase the country’s sliding scale for royalties of three to nine percent by 1.5 percentage points.
The sliding band will help bring down mounting debt and cut its fiscal deficit.
AMSC president Augustine Mubanga said the changes in the mineral royalties’ regime are positive and progressive http://epaper.daily-mail.co.zm/



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