THE Economic Intelligence Unit’s report on Zambia has projected that the country’s mining sector will expand rapidly after the debt restructuring deal is reached. According to the latest EIU report, revenue was expected to rise steadily as a proportion of GDP as mining sector output and growth in the non-mining economy strengthen. “The 2022 budget, which was passed in November 2021, reintroduces the deductibility of mineral royalty payments from corporate income taxes, although the country’s sliding-scale royalty rates were left untouched. The reform will cost Zambia some revenue that it would otherwise have gained, but we expect the abolition of what was in effect a system of double taxation to spur investment and output in 2022. We expect revenue to…...

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