Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Tax on mining and natural resources probed

26 September 2013, 12:32 Fin24

Pretoria – African tax authorities will be scrutinising the taxation of natural resources and the extractive industries at a historic conference to be held at the Elephant Hills Hotel in Victoria Falls, Zimbabwe, from September 25 to 27.

The conference is being organised by the African Tax Administration Forum (Ataf), an umbrella body for revenue authorities in Africa.

Its objective is to improve the efficiency and effectiveness of tax systems on the continent.

According to the executive secretary of Ataf, Logan Wort, African governments and revenue authorities are still grappling with the “resource curse”.

Many of them have not been able to ensure that the natural resource wealth of Africa actually benefits the people of the continent.

He said this situation was the result of many factors, including the complexity of special arrangements with companies mining these resources, transfer pricing and the illicit flow of capital from Africa.

The conference comes at a time when the African Progress Report released in May this year noted that Africa's natural resources could dramatically improve the lives of millions.

While natural resources may have fuelled a decade of rapid economic growth on the continent, most Africans have still not seen the benefits.

Wort said the conference will consider best practices in addressing the taxation of natural resources within developed and developing countries.

It will draw on the expertise of policymakers, administrators, business and academia and afford participants the opportunity to engage with partners so as to promote the development of more effective tax systems and the capacity building required in African countries.

Commissioner General Gershem Pasi, the head of the Zimbabwe Revenue Authority (Zimra) and host of the Ataf conference, said the abundant wealth of natural resources that Africa is blessed with should enable African countries to realise the UN Millennium Development Goals of eradicating extreme poverty and hunger.

- Fin24


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Wilwon Ochieng
Deputy Governor's ally found with...

The EACC has recovered KES 2 million in fake currency from a close ally of Deputy Governor for Tharaka Nithi Eliud Mati. Read more...

Submitted by
William Korir
Mudavadi given permission to join...

Musalia Mudavadi has been ghranted permission by his party to join the CORD Coalition. Read more...

Submitted by
Victor Tinto
EACC officers raid Deputy Governo...

EACC officers raided the home of a Deputy Governor as theft case continues in court. Read more...

Submitted by
Wilson Ochieng
New IEBC bosses to be named Novem...

New IEBC bosses will be named on November 30. Read more...

Submitted by
William Korir
DP Ruto has spoilt my name, activ...

DP William Ruto has spoilt my name, activist complains. Read more...

Submitted by
Wilson Ochieng
Apologise for attack on Auditor G...

Apologise for attack on Auditor General, President Uhuru Kenyatta is told by Kisumu Senator Anyang Nyong'o. Read more...