Metals News
Zambian Minister of Finance: implementation date of sales tax will be postponed to January 2020
Source:Wenhua Finance and Economics
The content below was translated by Tencent automatically for reference.

Zambia postponed the implementation of the new sales tax until January 2020 to further improve the law, Zambian Finance Minister Bwalya Ng'andu said on Friday.

Zambia is the second largest copper producer in Africa. Zambia plans to introduce tax reforms to replace previous VAT with a non-refundable sales tax, but the plan has attracted opposition from some mining companies.

The Ministry of Finance said in a statement that Ng'andu said he had withdrawn the draft law and would resubmit it at a meeting in September.

"there will be plenty of time to address the issues in the sales tax bill proposed by stakeholders," Ng'andu said. "

Zambia's mining industry strongly opposes the new tax proposal, a sore point between the government and the most important sectors of the economy.

Since its appointment last month, Ng'andu has been looking to improve relations with miners.

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