— Zimbabwe has passed regulations allowing the state to collect mining royalties partly in the form of minerals, according to a government notice seen by …
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— Mining companies that operate in Zimbabwe include subsidiaries of Impala Platinum Ltd., Anglo American Platinum Ltd and Sibanye Gold Ltd. ... Mining royalties are deducted as a percentage of the ...
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— Mining royalties earned the country ZW$3,7 billion (3% of government revenues) in 2021 with the bulk emanating from the targeted precious minerals which fetch high prices on the world...
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The Royal Bafokeng Community managed to force Impala Platinum to pay royalties to them after a long court battle from the 1980s. To date this community has managed to develop infrastructure and other social ... Mining in Zimbabwe can be traced back to the 15 th century when people practiced traditional small-scale gold and iron mining. Modern ...
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— Mining Laws and Regulations covering issues in Zimbabwe of Relevant Authorities and Legislation, Recent Political Developments, Transfer and Encumbrance
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— Zimbabwe has doubled its mining royalties on platinum miners. Mining royalties must now be paid in both local and foreign currency in the ratio of 50:50. Platinum miners with plants in Zimbabwe capable of producing platinum group concentrates will now also pay a beneficiation levy on unbeneficiated exports.
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— The Commissioner General of Zimbabwe Revenue Authority (ZIMRA) wishes to advise all mineral exporters and Financial Institutions of the following payment …
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the mining royalty rate is not one fi xed tax rate according to type of mineral but instead the rate increases when the operating profi t increases it. In general, royalties are typically deductible in most countries for purposes of determining profi ts for corporate income taxes. The trend is that countries have increased
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— How secure are mining rights conferred by a certificate of registration of claims, mining lease, special mining lease and special grants against expropriation for public purposes Zimbabwe? This interrogation cannot be made without referring to the most notorious provision in the Mines and Minerals Act, that is, section 398 of the Act.
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— In a landmark ruling, Zimasco has emerged victorious in a legal battle against the Zimbabwe Revenue Authority (Zimra), securing a judgment that absolves the …
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— The Reserve Bank of Zimbabwe (RBZ) has collected close to a ton of gold reserves since implementing a law that requires mining companies to pay a portion of their royalties using the precious metal. According to RBZ Governor Dr John Mangudya, the Central bank has accumulated 793 kilograms (25,000 ounces) of gold reserves as a result.
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— Zimbabwe's multi-billion-dollar mining sector has been granted the nod to pay part of their royalties, taxes and rural district council levies in local currency in a major boost for the capital intensive sector. The sector contributes over 60% of the country's export receipts which is used to oil the economy through the importation of raw
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— The cash component of the royalties would be made up of 40% Zimbabwean dollars and 10% in foreign currency, according to the notice. Zimbabwe's royalty rates range between 5% for gold and platinum ...
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— Minister of Mines and Mining Development Hon Soda Zhemu said that he was not adequately informed about the concerns raised by Mining Executives regarding high government fees and royalties that are hindering the mining industry growth. The mining industry in Zimbabwe has been grappling with challenges due to falling …
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— However, there is a prevailing sense of pessimism regarding Zimbabwe's mining outlook. The mining index, as measured by the Zimbabwe National Chamber of Commerce (ZNCC), experienced a notable growth of 9.4% in 2022. However, the most recent survey conducted by the ZNCC indicates a decline in this positive trend, with the …
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— Zimbabwe enacted the Finance Act 2024 Act 13 of 2023, introducing a 20% capital gains tax on mining title transfers.. This new tax regime, affects both domestic and international transactions, prompting concerns among stakeholders. The Finance Act mandates that stakeholders comply with the new tax requirements by April 1, 2024, for …
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— Zimbabwe is focusing on capacitating the mining industry for significant economic contribution. Accordingly, in addition to the adjusted tax structure, the Ministry of Finance and Economic Development announced in February 2022 that mining royalties are now payable in Zimbabwe Dollars (ZWL) up to a limit of 50% of royalties due.
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— The mining industry in Zimbabwe is not only rich in mineral resources but also subject to a nuanced taxation and royalty framework. In this article, we delve into the special rules governing taxation and royalties for exploration and mining entities operating within the country's mineral-rich landscapes. Special Tax Incentives for Miners …
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— The mining sector in Zimbabwe has demonstrated steady growth since the appointment of Hon Winston Chitando as the Minister of Mines and Mining Development in November 2017 after the fall of the Robert Mugabe administration. Despite some visible challenges and setbacks, the industry's overall progress has been remarkable.
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— Miners in Zimbabwe are obligated to pay royalties to the State from the minerals they would have extracted. Royalty is a charge that the government levies on …
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— Miners operating in Zimbabwe will have to pay some of their royalties in refined metal rather than cash. The country's president announced the move in a newspaper on Sunday (Oct 9), as the country ...
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— The Government of Zimbabwe has recently gazetted that half of the mineral royalties for gold, diamonds, platinum group metals (PGMs) and lithium will be paid in the commodities themselves and the remaining half paid in cash split between 40% Zimbabwe Dollars and 10% foreign currency. by Lyman Mlambo, Private Consultant (Mineral …
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special mining leases (as defined by Part IX of the Mines and minerals act) and 25% for all other mining leases. mining royalties are based on the value of minerals or mineral-bearing products at the mine sites and are payable to the Zimbabwe Revenue Authority. Royalties for diamond are 15%; other
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— Under the Mines and Minerals Act, miners have to pay taxes called royalties on the output from their mining locations. Royalties are paid to the Zimbabwe Revenue …
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— Zimbabwe plans to increase royalty rates on platinum producers and introduce one for lithium miners from Jan. 1 as part of efforts to boost its coffers that have come under strain from weakening ...
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— In a landmark ruling, Zimasco has emerged victorious in a legal battle against the Zimbabwe Revenue Authority (Zimra), securing a judgment that absolves the company from paying US$10 million in royalties.This decision follows an extensive examination of Zimasco's tax affairs, particularly concerning the calculation of royalties from 2019 to 2022.
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— Zimbabwe's President Emmerson Mnangagwa said a new policy that compels miners to pay half of their royalties in commodities and half in cash will start from this month as the country attempts to ...
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— Companies mining specified minerals are now required to pay 50 percent of their royalties in kind with effect from October 1, 2022, the Reserve Bank of Zimbabwe (RBZ) announced in a statement ...
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— Global miners operating in Zimbabwe will have to pay some of their royalties in refined metal rather than cash, the country's president wrote in a newspaper on Sunday, as the country struggles ...
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Royalties or similar payments. WHT on royalties are payable once a Zimbabwean company pays a royalty to a non-Zimbabwean resident. WHT is levied at a rate of 15% and is payable within ten days of the date of payment. The WHT falls due upon accrual (i.e. when payable), and actual payment is not a factor.
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— Zimbabwe has said it will take over all diamond mining operations in the country. But what is needed to maximise revenues isn't state ownership, but improvements in existing regulatory practices.
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— In summary, Zimbabwe's mining sector offers an array of tax incentives and royalties, making it an attractive destination for exploration and mining activities. These provisions not only encourage investment but also contribute to the sustainable …
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— THE Zimbabwe Revenue Authority (Zimra) has started executing its recently added mandate of deducting mining royalties, through banking institutions, on behalf of Treasury.
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— The Zimbabwe Revenue Authority (ZIMRA) has advised miners and Mining companies to cease with immediate effect, remitting mining royalties to the Reserve Bank of Zimbabwe (RBZ) and remit to …
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— 1. Any taxpayers that were remitting mining royalties to the Reserve Bank of Zimbabwe should cease doing so and remit the mining royalties to the Commissioner General in compliance with the Revenue Authority Act [Chp.23.11], Mines and Minerals Act [Chp 21.05] and the Finance Act [Chp. 23.04]. 2.
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