Not sure where this came from but you might want to look at an updated version good sir.
* No problem, I had several, but HC didn't like those, So i went with this one for illustration purposes mainly because it uploaded, Not so much Factual tbo, but yes, I need an updated version asap.
*Now, moving right along.
In other New News, as there's always something happening in the DRC when it comes to MIning, today is No different, as I see where,
In three years, the mining industry has contributed more than $6 billion to the country's economy
In three years, between 2018 and 2020, the mining industry of the Democratic Republic of Congo brought in more than six (6) billion US dollars to the Congolese economy.
This sum, informs Louis Watum, President of the Chamber of Mines of the DRC, is distributed as follows: US $ 2.735.3 billion for the year 2018, US $ 2,493.2 billion in 2019 and US $ 736.6 million of US dollars for the first half of 2020.
These figures were revealed during a press briefing organized on Wednesday, December 22, 2021, in Kinshasa by the Chamber of Mines of the Federation of Enterprises of Congo (FEC).
According to Louis Watum, the height of these revenues are made up of significant payments in respect of tax on profits and profits, but also the increase in export earnings following the increase in the prices of basic products observed from 2017, particularly for Cobalt, the price of which had almost tripled in 2018 and early 2019.
As a good contributor, Louis Watum, believes that it would be better if the Government could explain to them what this envelope was used for.
For him, mining companies have effectively contributed to the development of the national economy with the construction of schools, health centers and other development-promoting infrastructure in decentralized territorial entities (ETD).
"Mining companies have contributed to the development of the national economy by building schools, granting scholarships, building health centers, cultural infrastructure, agricultural feeder roads, drilling wells for healthy water, electricity for the granting of electric transformers and solar panels, the supervision of communities for agriculture but also, life is resuming in the villages, chiefdoms, groups by the payment of royalties ”, President of the FEC Chamber of Mines.
Regarding employment, Louis Watum reports that the number of jobs generated by the mining industry has grown by more than 10% annually.
The mining industry employs more than 25% of the country's total workforce, according to data from the National Employment Office.
In addition, Louis Watum criticized the non-applicability of the mining sector tax regime, as defined by lawmakers.
According to him, the revision of the Mining Code made it possible to introduce at the initiative of the Government 19 new levies in terms of taxes, duties or duties, and the upward revision of the rate of the mining royalty and the tax, exception on the remuneration of expatriates.
He regretted that the State services are returning to the charge by imposing on the mining industry other levies without these being included in the tax regime applicable to mining activities and this in the total indifference of the Government. of the Republic.
To illustrate his point, the President of the Chamber of Mines cited in particular the import-export tax of the Minister of Foreign Trade and the DGRAD, the costs of the Congolese Control Office (OCC) collected by the Ministry of Foreign Trade, the tax from the National Hygiene Police at the borders collected by the Ministry of Health, the industry promotion tax from the Ministry of Industry and the Industry Promotion Fund (FPI), the tax on the concentrates collected by the Provincial Governments.
It should also be noted that the mining sector is not the first to have denounced the multiplicity of taxes in the Democratic Republic of Congo.
This question was raised previously by cement manufacturers who also complained about the multiplicity of taxes in the Democratic Republic of the Congo.
The Congolese government is called upon to work to improve the business climate in the country and thus guarantee investors the necessary conditions in the exercise of their activities.
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Food for thought on the Road to Mining Manono
Merry New Mining License ( 2022 )
Happy New DFS in 2022
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To be Frank
