A Lusaka based economist has expressed concern over continued reports of thefts of copper cathode in the country saying this has a negative impact on economic growth.
Professor Oliver Saasa noted with sadness that government has continued to lose revenue through tax invasions by illegitimate dealers in the mining industry.
Professor Saasa told ZANIS that the vice may cause loss of investor confidence in the mining sector if it continues.
He said the mining industry can only remain attractive to investors if it embraces business security and safety of its products.
He said copper has remained the country’s economic driver as it accounts for over 70 per cent of the nations export revenue.
Prof. Saasa said the thefts are an indication that the demand for copper on the black market has increased.
He has since called on local producers to strengthen protection of mining products and curb security leakages.
Prof. Saasa has meanwhile commended law enforcement agencies and other security wings for unearthing copper theft scams.
He has since called on the security wings to expedite measures in dealing with copper theft cases.
Government has put several measures in place to fight copper theft through the former Anti Copper Thefts Unit now known as the Anti Jerabo Unit.
Yesterday, Police in Livingstone raided a house and recovered over 100 bags of copper cathodes and blisters in Dambwa site and service.
ZANIS
HAS IT OCURRED TO YOU PROF SAASA THAT THE SAME INVESTORS MAY BE RESPONSIBLE FOR COPPER THEFTS TO EVADE PAYING TAX? WAKE UP ZAMBIA THESE THINGS ARE HAPPENING EVERYWHERE EVEN IN RSA WITH DE BEERS. GOVERNMENT IS NOT RESPONSIBLE FOR SECURITY OF COPPER CATHODES ON THE MINES OR IN TRANSIT. THE GOVERNMENT’S RESPONSIBILITY IS TO CREATE CLIMATE CONDUCIBLE TO INVESTMENT. STUPID PROF.
you are right my brother…the so called investors are nonsense..this is normal in other countries like america.give them jobs if you dont want them to steal..guys go ahead…and if you are against,tombanoko!!!!!!!!!
Dull professor why are you not talking about the mines evading tax yet they are run by stupid investors.zambians get your shares,if it means stealing get it or else the so called investors wil get all our share.
2720 ulicikopo sana. you do not know even 1% of what Oliver knows. No wonder you are hiding your identify. You seriously need a licence to be that ugly.
my friend you are right.this is normal in America.but look at this person on 2.1 who is calling you names…chilibe nzelu..stanyoko….tombanoko…what do you know yourself?noko ichinyo!!!!!!!
Pastor X. What has mum got to do with this? You a f**cking *****. Don’t you ever comment on my postings. Your contribution speaks a lot about your level of education. You are a complete Kaponya, a black sheep of your family.
Is KCM paying enough tax? No
LT In your report on prof Saasa is not tax evasion/ evading? But you have written tax invading. Pay particular attention to spellings, terminologies and grammar in general.
High Copper thefts are a good sign of entrepreneurship growth.
Mini LT Guide to Tax Hassles
Avoidance – legal. Country loses out.
Evasion – illegal. Nail them.
Invasion – sounds painfully intrusive but non existent.
Windfall – great in booming times, not so great when market takes downturn.
Incentive – useful except when mishandled and country loses out
Loopholes – conveniently dotted in our tax landscape. Repairs required.
Haven – close to heaven for our investors who are as unangelic as they come.
Paying Tax – a foreign concept at both street and corporate level. Big cheesy grin.
Zambians pliz pliz these so called investors come here to loot our wealth so ni 50 50. The more money in your pockets is no longer in place and it has been replaced with more hunger in your houses due to high price of mealie meal… So guys steal more… This is the only chance u have to steal. GRZ won’t help u if u fail to help yourselves, they will only come back in 2016 to ask for your votes by then nefitenge bamifoleshe ninshi fyalilepuka.
stealing plunderers is a civic act !!
The problem is our government, despite having the resources to supervise and direct behavior of investors, they are busy chasing HH, NM and soon EC.