TIZ urges tightening of loopholes for mines to pay correct taxes

Transparency International Zambia (TIZ) has called on government to tighten loopholes and ensure mining companies pay correct taxes

TIZ Executive Director Goodwell Lungu says there is need to act quickly and investigate the reconciled figure of what the mining companies paid in terms of taxes and what government actually received in the year 2012 and 2013.

Goodwell Lungu

Mr. Lungu says the differences are of great concern.

He adds that it is also worrying to have such irregularities because this means that the mining industry is not having thorough audits.

Mr. Lungu has since stated that TIZ recommends strongly that government moves in and tightens any potential loopholes.

He states that Zambia needs to benefit from its natural resources hence the need for thorough audits to be done in the mining sector.