Bloomberg News

Zambia to Exceed 2011 Tax Target on Higher Mining Revenue

September 02, 2011

(Updates with commissioner’s comments in second paragraph.)

Sept. 2 (Bloomberg) -- Zambia will probably exceed its tax collection target of 16 trillion kwacha ($3.2 billion) this year due to increased revenue from the mining industry, said Wisdom Nekairo, the commissioner-general of the Zambia Revenue Authority.

“We will exceed the target by about 1 trillion kwacha,” Nekairo said in a phone interview today from Lusaka, the capital. “Mines revenue will account for most of this money,” he said.

Export revenue for Zambia, Africa’s biggest copper producer, may increase 40 percent to $10.2 billion this year, according to the central bank. Earnings from copper shipments is forecast to jump 46 percent to $8.4 billion.

--Editors: Gordon Bell, Emily Bowers

To contact the reporter on this story: Anthony Mukwita in Lusaka at amukwita1@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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