Taxation

Seeking clarity on Zimbabwean mining tax

By on March 2, 2015 in Mining, Regulation, Taxation with 0 Comments
Seeking clarity on Zimbabwean mining tax

Aquarius Platinum is seeking clarity from the Zimbabwean government on a tax that could derail an $82m expansion project at the Mimosa mine it shares with Impala Platinum . Business Day reports that the Zimbabwean government tabled an export tax of 15% on revenue in 2013 to force mining companies to beneficiate their minerals in the country. […]

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Zambia: Reverse of mining tax decision may be too late

By on February 26, 2015 in Mining, Taxation with 0 Comments
Zambia: Reverse of mining tax decision may be too late

Plans by Zambia’s new president to reverse a hike in mining royalties may come too late to revive investment in the sector, with confidence among foreign mining companies shaken and neighbouring Democratic Republic of Congo looking a potential better bet. Engineering News reports that eager to fill a hole in its finances, the government said last […]

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Kenya’s central government against local taxation plans

By on October 24, 2014 in Mining, Regulation, Taxation with 0 Comments
Kenya’s central government against local taxation plans

Plans by local authorities along Kenya’s coast to introduce new taxes on mining and oil exploration is facing resistance from the country’s central government, reports Mining Weekly. Kwale, Lamu and Taita Taveta counties along Kenya’s Indian Ocean coastline have proposed the new taxes on investors exploiting minerals, gas and oil in these areas. The counties […]

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Zambia’s new mining royalties to impact on investment

By on October 24, 2014 in Mining, Regulation, Taxation with 0 Comments
Zambia’s new mining royalties to impact on investment

As part of an effort to revamp the country’s mining tax system, Zambia will increase underground mining royalties to 8% from 6%, Finance Minister Alexander Chikwanda said. Mining Weekly reports that the new system he outlined aims to collect revenue from the industry at different stages of the production pipeline by introducing a 30% corporate […]

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Ataf has action plan to address tax base erosion

By on August 20, 2014 in Regulation, Taxation with 0 Comments
Ataf has action plan to address tax base erosion

Multinational companies shifting their profits from Africa to low-tax jurisdictions are only partly responsible for the erosion of the continent’s tax revenue bases. Business Day reports that the African Tax Administration Forum (Ataf) believes some countries have signed away their tax revenue because of weak domestic policies, and ill-conceived tax incentives and mining contracts.    […]

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New mining laws in Rwanda target large scale investors

By on July 16, 2014 in Policy, Regulation, Taxation with 0 Comments
New mining laws in Rwanda target large scale investors

The Rwandan Government is targeting large scale investors under the amended mining Law published yesterday in the Official Gazette, as part of efforts to ensure maximum productivity of the sector. Challenged with under exploitation despite its enormous potential, the mining sector has shown signs that it can be Rwanda’s leading foreign exchange earner and according […]

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IMF advises Kenya to implement robust mining and monetary policies.

By on July 15, 2014 in Mining, Policy, Regulation, Taxation with 0 Comments
IMF advises Kenya to implement robust mining and monetary policies.

Kenya has to develop wise policies for natural resource management to mitigate geopolitical risks and weather related shocks, the International Monetary Fund mission to Kenya has said. It told the government to also maintain a careful fiscal position consistent with the country’s medium term debt targets and strengthen capacity building in public financial management. It […]

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Base disputes validity of Kenya export levy

By on June 17, 2014 in Mining, Rare Earths, Taxation with 0 Comments

Aim- and ASX-listed Base Resources was disputing the constitutional validity of a Kenya Shillings 5 000/t levy on exports of ilmenite and rutile from its Kwale mineral sands project, in Kenya. The company on Thursday said it had received unqualified legal advice that the Kwale county government did not have legislative authority under the Kenyan […]

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Smuggling losses hamper DRC growth

By on February 24, 2014 in Mining, Regulation, Taxation with 0 Comments

Gold worth at least US$ 400-million dollars was smuggled out of the Democratic Republic of Congo (DRC) to Uganda and other east African countries last year.The latest United Nations’ report assessing the smuggling racket says the money is used to finance the war in eastern DRC.The 276-page report by the UN Group of Experts on […]

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Zimbabwe faces hike in power tariffs

By on February 24, 2014 in Distribution, Power, Taxation with 0 Comments

Zimbabweans should brace for a hike in power tariffs from next month after revelations that the national power utility was charging way below the cost of production.Operational inefficiencies at Zesa Holdings have compounded the situation, with the utility failing to curb power theft by electricity users, despite introducing prepaid meters.Zimbabwe  Electricity Regulator CEO Gloria Magombo […]

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