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blacklaura

Aberdeen, United Kingdom

PR officer

Member since November 05, 2012


  • The introduction of Statutory Instrument No.32 is not meant to “kill” the mining sector or is it a form of exchange controls but is aimed at ensuring that the proceeds from the mineral resources benefits the Zambian people said VICE President Guy Scott.

    Government would ensure that taxes remitted by companies were thoroughly scrutinized so that they could fully benefit the nation said Dr Scott. “Some sectors feel we are going backwards by claiming that we are introducing exchange controls but I want to tell you that we are an intelligent Government that wants to ensure that the resources are properly managed through the implementation of the SI 32,” he said. Dr Scott said while speaking during the 3rd Zambia International Mining and Energy Conference (ZIMEC) in Lusaka yesterday, it was sad that more money continued to leave the country through tax avoidance hence the need to intensify policies that would ensure transparency in the industry.

    Issues globally with the on-going Group of eight nations meeting on taxation and transparency in Northern Ireland being timely as it would assist countries like Zambia find a lasting solution to the challenge. “We are very in line with this meeting and we expect that we will have increased transparency and access to offshore bank accounts,” he said. Government would continue to create an enabling environment for investors in the mining and energy industries saying the sectors were key in national economic development, Dr Scott s...