By ZamChro Correspondent
Government says it will not review its position on the windfall tax because a formular is already in place to collect mineral tax.
Finance Minister, Situmbeko Musokotwane, says the country will benefit from rising copper prices through a profit based tax formular.
Zambian Chronicle learnt about government’s desire in Lusaka that mines will continue to pay tax based on their profitability.
And Dr. Musokotwane said part of the money raised through the windfall tax has been included in this year’s national budget.
He said people are already benefiting from the windfall tax revenue through various budgetary disbursements.
Government withdrew windfall tax on minerals and replaced it with a profit based tax formular.
This was part of the measures to help the mines sustain operations following the fall in metal prices.
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