15% tax too much – emerald sector


Share post:



GOVERNMENT should reconsider the 15 percent export tax as it is chocking the emerald sector, Emerald and Semi-Precious Stones Mining Association of Zambia (ESMAZ) president Victor Kalesha has said.

Mr Kalesha said ESMAZ said 15 percent export tax was too much for the industry as the players were already paying other taxes.

He said the current taxes such as the 15 percent export tax were distracting and discouraging investors in the emerald sector.

Mr Kalesha said this in an interview in Lusaka.

“I think Government should reconsider the introduction of the export tax because it will kill the industry if it is not already killing it. Government should meet the stakeholders on the ground so that we discuss a win-win situation,” he said.

“We are not against the taxes but they should be taxes that are reasonable and attracting investors and not killing the industry. The 15 percent is distracting and killing the industry”.

Mr Kalesha encouraged Government to always engage players of the industry whenever there were changes in taxes.

The 15 percent, he said, might lead to the players in the industry reducing their workforces.

“I think that any time Government wants to introduce taxes like that, it needs to engage stakeholders and players on the ground because of late we have serious investors who are complaining, especially over the export tax and I think that those that are already operating such as Kagem,” Mr Kalesha said.


Please enter your comment!
Please enter your name here


Related articles

Kenyan teachers held over video of pupils simulating sex

Kenyan police have arrested six teachers from a primary school in the western part of the country over a video shared widely showing pupils simulating sexual acts as the teachers watch.

Zambians face fines for using phone while crossing roads

The authorities in Zambia have passed a law that prohibits pedestrians from crossing the road while wearing headsets or talking on a mobile phone.

Kenya opposition leader faces lawsuit over secret video claim

Kenya's former electoral commission boss has threatened to take legal action against the opposition leader after the politician alleged that the poll team, including the chairman, visited his home during last year's closely fought election, local media report.

Fuel price rise in Cameroon as subsidies scrapped

Fuel prices in Cameroon will rise by about 15% from Wednesday after the government agreed to pressure from the International Monetary Fund (IMF) to cut fuel subsidies.