Zim to levy tax on raw platinum exports

Zim to levy tax on raw platinum exports

2013-12-20 12:03

Harare - Zimbabwe is set to start levying an export tax on all unbeneficiated platinum and diamonds with effect from January 1 2014, said Finance Minister Patrick Chinamasa in his recent budget presentation.

However, he did not give the rate at which tax will be levied on the minerals.

The Zimbabwean government has of late been advocating mineral beneficiation, in an effort to increase revenues to the state coffers.

The beneficiation policy is also expected to create employment.

The Zimbabwean government has already pronounced its intention to oblige platinum producers to beneficiate platinum within a period of two years from January 1.

Platinum miners in Zimbabwe are working on building a platinum refinery at an estimated cost of US$2bn.

Zimbabwe's platinum mines are owned by Anglo American Platinum and Impala Platinum.

  • Lebeko Merafe - 2013-12-20 14:00

    Big brother is showing us the way. VIVA MUGABE VIVA!!!!!!

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