Revenue Authorities in Zambia have said an audit shows mining companies owe the government more than the state is due to pay them in tax refunds.
Miners have been demanding Zambia pay the $550-$600 million due to them in Value Added Tax (VAT) refunds.
However, Commissioner-General of the Zambia Revenue Authority, Kingsley Chanda, said, “When we put together what we owe the mining companies compared with what they are owing, you find that on the balance of numbers they are actually owing more.”
Chanda did not say how much mining companies owed the state but said it included penalties and interest. Mining companies pay government royalties and tax.