By Michael Kaluba
The Kitwe Chamber Of Commerce and Industry says the announcement by mines minister Richard Musukwa to reconsider government’s position over the five percent import duty on copper concentrates is too late.
Kitwe chamber of commerce and industry second vice president in charge of commerce Emanuel Mbambiko has castigated government for not consulting widely and taking heed of advice from the mining sector over the five percent tax imposed on mining firms.
Mines Minister Richard Musukwa on Tuesday told parliament that various factors have led to government’s loss of revenue from the mining sector and revealed that government is reviewing ways in which the country can collect revenue away from the five percent import duty on copper concentrates.
But Mr Mbambiko is of the view that the impact of the decision made two years ago is irreversible especially that jobs have been lost.
He has warned that some taxes introduced by government have continued backfiring on the state revenue collection capacity.
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