Zambia says owes main mining companies $215 million in tax refunds

LUSAKA, Oct 10 (Reuters) – Zambia owed main mining firms 2.eight billion kwacha ($215 million) in tax refunds as at June 30, 2019, Finance Minister Bwalya Ng’andu mentioned on Thursday, the most recent growth in a long-running dispute with the miners.

In December, the Zambian authorities withheld fee, saying the proper documentation had not been supplied.

The federal government has verified that it owed the businesses 2.834 billion kwacha in Worth Added Tax (VAT) refunds though the mining companies had been claiming an extra 4.955 billion kwacha with out offering proof, Ng’andu mentioned.

He was responding to a query in parliament on the unpaid tax refunds to native mining companies majority owned by Glencore , Vedanta Sources, First Quantum Minerals and Barrick Gold.

Ng’andu mentioned the federal government deliberate to satisfy the affected mining firms and agree how the excellent refunds can be paid.

$1 = 13.1500 Zambian kwacha
Reporting by Chris Mfula; Modifying by Emelia Sithole-Matarise

Author: Maxwell C.

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