New government policy lifts miners’ spirits

THE mining industry says the decision to move collection of fees and commissions from the Minerals Marketing Corporation of Zimbabwe (MMCZ) to the Zimbabwe Revenue Authority (Zimra) will iron out operational creases that were affecting miners.
Last week, the Reserve Bank of Zimbabwe (RBZ) announced that all mining taxes applicable at the point of receipt of export proceeds would now be paid directly to Zimra instead of being deducted by MMCZ “to improve the ease of doing business arising from complications around payment of fees and commissions…”
The new policy takes effect immediately.