TIME PUBLISHED - Tuesday, June 7, 2011, 4:52 pm
Minister of Finance and National Planing Hon Dr Situmbeko Musokotwane
Finance Minister, Situmbeko Musokotwane says Government has raised 800 billion Kwacha in taxes from mining companies.
The money is now being used to rehabilitate township roads.
The money is part of the one point four trillion kwacha tax arrears owed by the mining companies.
Dr Musokotwane says in 2008 government introduced new taxes for mining companies but some of them refused to pay because the taxes were not provided for in the development agreements.
He says after protracted consultations with government, the mining companies later agreed to pay the taxes in arrears.
Dr Musokotwane told Journalists at a press briefing in Lusaka that the money was not reflected in the budget because it has only been made available now.
In November last year Dr Musokotwane made a ministerial statement in parliament in which he told the house that the total tax liability of the mining companies amounted to 1.4 trillion kwacha.
He told the house that close to over 400 billion Kwacha would be paid by end of 2010 while the balance of 967 billion Kwacha would be settled before June 30, 2011.
Some opposition leaders have challenged government to justify where the money to finance the rehabilitation of roads in townships is coming from because it was not provided for in the budget.
ZNBC
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Source: http://www.lusakatimes.com/2011/06/07/tax-roadsfinance-minister/
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