Zambia says to waive VAT rule on mining firms, refund $600m

August 27, 2014

Zambia says to waive VAT rule on mining firms, refund $600m

LUSAKA – Zambia plans to waive a rule requiring mining companies and other exporters to produce import certificates from destination countries because it is impracticable, finance minister Alexander Chikwanda said yesterday. Chikwanda said the ministry planned to negotiate a staggered repayment of the $600 million in VAT it has withheld from copper mining companies because of failure to produce the import certificates. – Reuters.