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Changes On The Neighborhoods: Zambia to change mining tax, lift underground royalty to 8%
Zambia will increase underground mining royalties to 8% from 6% as part of an effort to revamp the industry’s tax system, Finance Minister Alexander Chikwanda said in his 2015 budget speech on Friday. The new system he outlined aims to collect revenue from the industry at different stages of the production pipeline by introducing a 30% corporate processing and smelting tax.
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