Zambia to Ease Tax Regulations for Copper Exports

The Wall Street Journal reported today that the Zambian Government is planning to relax its rules on taxes for copper exports. That news will bring relief to copper miners in the country, according to the Journal.

As quoted in the publication:

Finance minister Alexander Chikwanda said the government had decided to relax the rule requiring copper mining companies to preset import certificates from destination countries as it has proved hard to implement, mainly because it involves documentation from importers outside the country’s jurisdiction.

Zambia’s copper miners have been pressing government over the refund of more than $600 million in accumulated value-added tax refunds since last year. The government had earlier said it would pay the refunds only if the companies produced import certificates.

Click here to read the full Wall Street Journal article.