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

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

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. Advertisements

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

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

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.

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Africa Mining: New tax burden for Zimbabwe miners

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.

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

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.

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