Zambia is withholding 2.4-billion kwacha ($243-million) of the 5-billion kwacha owed to mining companies in tax refunds because the correct documentation has not been provided, the tax authority said on Wednesday.
Zambia’s government began paying up to 800-million kwacha a month in Value Added Tax refunds to mining companies in June, aiming to put an end to a long running dispute in which firms were owed about $700-million.
Source: www.engineeringnews.co.za
Zambia withholding 3m in tax refunds owed to mining firms