Rule 18 twist cheers Chamber of Mines

MINISTER of Finance Alexander Chikwanda (middle), Konkola Copper Mine chief executive officer Steven Din (right) listening to head of business unity Enock Mponda during a tour of Nchanga smelter recently. PICTURE: NKWETO MFULA

THE Chamber of Mines of Zambia (CMZ) has described the revision of the mining value added tax (VAT) regime as a ‘step in the right direction.’
CMZ president Jackson Sikamo said in an interview yesterday that mines are now relieved with the move by Government.
“This is a good step in the right direction. VAT Rule 18 was thorny as exporters had difficulties to get documentation,” Mr Sikamo said.
Mr Sikamo said refund claims will now be taken care of.
“Our members are now happy with the move by Government,” he said.
On Thursday, Minister of Finance Alexander Chikwanda told Parliament that following concerns from stakeholders, government has relaxed VAT rule 18.

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