tax

Africa Oil & Gas: Nigeria hits oil majors with billions in back taxes

Posted on February 22, 2019February 22, 2019 by Mozambique Resources Post

Nigeria has ordered foreign oil and gas companies to pay nearly $20-billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.

Africa Mining: Zambia tax hike to make most mines unprofitable, group says

Posted on December 21, 2018December 21, 2018 by Mozambique Resources Post

More than half of the copper mines in Zambia, Africa’s second-biggest producer of the metal, will probably be unprofitable next year with thousands of jobs on the line, as the nation raises taxes for operators, the country’s biggest industry lobby group said.

Africa Mining: Zambian revenue authority clears Gemfields’ Kagem mine

Posted on December 19, 2018December 19, 2018 by Mozambique Resources Post

Coloured gemstone miner Gemfields said on Tuesday that the Zambian Revenue Authority (ZRA) had cleared its Kagem mine, following a recent tax investigation.

Africa Mining: “Tax changes could lead to 21 000 job losses” – Zambian mines warn

Posted on December 12, 2018December 12, 2018 by Mozambique Resources Post

Zambia’s planned mining royalty increases could lead to more than 21 000 job losses and operators cutting $500-million in capital spending over the next three years, an industry lobby group said.

Africa Oil & Gas; Italy Tax Police Search Eni Offices in Congo Republic Corruption Probe

Posted on April 13, 2018 by Mozambique Resources Post

Italy’s tax police have searched the offices of oil major Eni as part of a probe into alleged corruption in the Republic of Congo, two sources familiar with the matter said.

Africa Mining: First Quantum confirms $7.9bn Zambian tax assessment

Posted on March 21, 2018 by Mozambique Resources Post

(Bloomberg) — First Quantum Minerals Ltd. plunged the most in almost two years as the miner was hit with a $7.9 billion tax bill by Zambia, which accounts for 84 percent of its revenue.

Africa Mining: Mali demands $80M tax claim payment from Randgold

Posted on October 12, 2016October 12, 2016 by Mozambique Resources Post

Mali’s government ordered Randgold Resources on Monday to pay half the 46.89-billion CFA francs ($80-million) it says the London-listed miner owes it before opening talks about the remaining sum.

Africa Mining: New tax burden for Zimbabwe miners

Posted on October 30, 2015 by Mozambique Resources Post

Zimbabwean miners are to be taxed a new levy to fund exploration activities as the government transforms the Minerals Marketing Corporation of Zimbabwe into a state exploration company. This comes in the wake of declining exploratory work by mining firms at a time when miners globally are facing market uncertainties.

Africa Oil & Gas: Angola Tax Reform to offset drop in oil revenue

Posted on January 23, 2015January 23, 2015 by Mozambique Resources Post

Gains from tax reforms introduced this year in Angola will offset the declines in oil revenues that are increasing the country’s budget deficit, the director for taxation at Ernst & Young Angola said in Luanda. Substantial changes in taxes on income, capital and consumption as well as to social security, have been prepared by the government over the past two years.