Mineral undervaluation concerning, ZRA

 Mineral undervaluation concerning, ZRA

A detailed close-up shot of the mineral iron pyrite that is also known as the fool’s gold.

The Zambia Revenue Authority (ZRA) is concerned with the under valuation of minerals.

ZRA Commissioner General Dingani Banda says the under valuation of minerals is affecting the collection of miner al royalties which is calculated based on the value.

And Mr Banda disclosed that ZRA has instituted investigations on companies exporting minerals but not declaring mineral royalties.

He was speaking when he inspected a truck laden with precious stones in Chongwe in the company of Zambia National Service Commander Lieutenant General Maliti Solochi.

And, General Solochi requested ZRA to facilitate an orientation exercise for officers to acquaint them valuation of minerals going forward.