Extractive industry bill before Parley

Zambian Parliament.

THE Zambia Extractive Industry Transparency Initiative (EITI) Bill that will compel mining companies to disclose payments of revenue to Government has been drafted and awaits Parliament approval, a senior government official says.
Zambia loses about US$3 billion annually through corporate tax dodging.
“The bill on EITI has been done and as Government, we are hoping that once it goes through Parliament, it will become law,” Ministry of Mines and Minerals Development acting Permanent Secretary Fred Banda said in an interview during the capacity building training workshop on Tuesday.
He said some firms have not been submitting information being requested for to be included in EITI reports

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