Zambia: Rule on import papers waived

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ZAMBIA planned to waive a rule requiring mining companies and other exporters to produce import certificates from destination countries because it was impractical, Finance Minister Alexander Chikwanda said yesterday. He said the ministry planned to negotiate a staggered repayment of the $600 million (R6.4 billion) in VAT it has withheld from copper mining firms due to failure to produce import certificates. Those affected include local units of Vedanta Resources, Barrick Gold and Glencore. – Reuters


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