Q FM Africa's Modern Radio
The Economic Association of Zambia has implored mining companies in the country to be explicit in providing all critical information on their operations following President Edgar Lungu’s directive for changes to be effected to the 2015 mineral royalty tax.
EAZ president Isaac Ngoma says mining companies should be transparent in availing the necessary data in order to help government make informed decisions on their operations.
Isaac Ngoma
Mr Ngoma has told Qfm News by telephone that what is ultimately important is to ensure that mining operation are not constrained to the level where it becomes unprofitable to run mining operations.
He notes that in the same vein mining companies must be accountable for their operational costs in an unfastened manner.
Mr Ngoma says this is to ensure government is not cheated out of deriving the gain that should accrue to the Zambian people in the form of taxes.
The EAZ president states that his association is thus of the view that this is something that should be done properly so that there is a more coherent and sustainable working relationship between government and the mining investors.
He says this entails that both government and the mining companies have the responsibility to ensure that they are as transparent as possible and as accountable in their actions with the view of coming up with a much fair and acceptable decision that will be good to both of them.
Mr. Ngoma states that Zambia needs the mines to continue operating so that the country can derive revenue from the sector, sustain the jobs the sector has created and also to boost the investment confidence in the economy and create more wealth.
He says this is why the Economic Association of Zambia has welcomed President Edgar Lungu’s decision to direct the Ministers of Mines and Finance to make changes to the current mine tax regime.