Government considering scrapping corporate tax, upping mineral royalties for mining sector
News broke this week that the Government was considering scrapping corporate tax for the mining sector in favor of a higher mineral royalty rate which is currently at 6 percent. The Government is said to consider mineral royalties simpler and more transparent to administer than corporate taxes. No indication of the new percentage were given.
The Bond and Derivatives Exchange (BaDEx) went live and executed its maiden live transaction yesterday at 14:49pm – a June 2014 US Dollar/ZM Kwacha futures contract. The transaction was between Banc ABC (who is a trading member) and their client. This was an historic transaction for one of a handful of Bond and Derivative Exchanges in Africa. BaDEx was incorporated in 2009 and became a licensed exchange in 2011. It is regulated by the Securities and Exchange Commission (SEC) of Zambia.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *