Windfall tax withdrawal, Zambia’s biggest mistake – Chipimo

Opposition National Restoration Party (NAREP) President Elias Chipimo says the removal of the windfall tax for mining companies is one of the biggest mistakes the country has ever made in its mining history.

Speaking during a Public Discussion Forum at the University of Zambia (UNZA) last evening under the theme: “Mining tax deferment”, Mr. Chipimo says the country needs the money from the windfall tax in order to develop.

Mr. Chipimo argues that there is need for equitable benefits from super normal profits enjoyed by the mining companies during periods of very high copper and cobalt prices.

He notes that the re-introduction of the windfall tax will result in increased revenue for poverty reduction programmes, investment and national development.

Speaking at the same forum, ActionAid Country Director, Pamela Chisanga, emphasized the need to re-introduce the windfall tax, saying on top of the existing taxes, it is possible to have a windfall tax designed in a way that works for both small and big mining companies.

Ms Chisanga has since noted the need to create an environment for an open dialogue where government and all stakeholders can discuss the merits and demerits of windfall tax.

And former Mines Deputy Minister who is also a lecturer in the University of Zambia school of mines Dr. Mathias Mpande has noted that allowing tax avoidance is not a responsible way of running any government.

Dr. Mpande has since proposed for a reduction in the rate for the current pay as you earn income bands which will provide further and equitable relief for normal employees and thus encourage incomes for accessing basic needs and services.


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