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Taxing problems for Zambia

Some US$66 million in tax revenue owed to the Treasury are missing, according to the mid-February report on Zambia published under the Extractive Industries Transparency Initiative (EITI). The report showed that the mining companies had paid $463 mn. to the government in 2008 but the government says it received just $397 mn. PriceWaterhouse Coopers (PwC), which compiled the report, said the discrepancy was probably due to documentation problems, exchange rates and lack of supporting documents and hoped to reconcile them. It offered possible explanations but no definite conclusions. Mines and Minerals Development Minister Maxwell Mwale has commissioned an investigation but many worry that officials have misappropriated the money (AC Vol 51 No 9)....

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Taxing problems for Zambia

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