ZMF seeks to solve challenges involved in ASM taxation
Zimbabwe Miners Federation (ZMF) will on Thursday host a webinar meeting with Zimbabwe Revenue Authority (ZIMRA) officials to look into the challenges faced by the Artisanal and Small-Scale Mining (ASM) sector on taxation, ZMF CEO Wellington Takavarasha has said.
The ASM sector has a myriad of problems characterized by low productivity, under-capitalisation, lack of technical and management skills, lack of transparency in their activities; some of which are unregulated and contribute to environmental degradation. This has made it complex for the taxation of the sector to be clear.
According to Takavarasha, the administration of the current tax regime in the sector has many problems which need to be addressed as a matter of urgency, hence ZMF will host a webinar meeting with ZIMRA officials on Thursday the 9th of September 2021 at 1000 hours to deliberate on these challenges.
“The taxation of the artisanal and small-scale mining sector remains complex. According to Zimra 2011, there are major challenges that are faced during the administration of the current tax regime in the mining sector which include transfer pricing and tax evasion,” Takavarasha said.
“ZMF will host a webinar meeting with ZIMRA officials on Thursday the 9th of September 2021 at 1000 hours to deliberate on the challenges in the taxation of the ASM sector. There will be a plenary session thereafter. Link codes for the meeting will be provided on Wednesday 8 September 2021,” he added.
Zimbabwe has a diverse mineral resource base that has not been significantly explored. The mining sector has emerged to become the key economic sector in the country in terms of contribution to the GDP exports, fiscal revenue FDI and employment.