Zambia: No more windfall tax – RB

Zambia: No more windfall tax – RB

Rupiah Banda

President Rupiah Banda says Government will not re-introduce windfall taxes in the mining sector.

He says Government abolished the Windfall taxes last year, to encourage more investment into the mining sector.

President Banda explained that the move was meant to bring about a Tax system which is easier to manage.

Mr. Banda says the mining sector still contributes significantly to governments revenue base, noting that its growth should not be stifled.

The President was speaking in Chililabombwe thursday during the ground breaking ceremony of the Konkola North Copper Mine.

He also said government will continue to provide an attractive tax regime that will not jeopardise Zambia’s Investment climate.

Mr Banda said he will ensure that there is stability in the mining sector so as to continue attracting investors.

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