Great thinkers have given wise counsel on the need to periodically look back at issues, to re look at our achievements, our shortcomings and then move forward with confidence.
For me 2011 has been, on the whole, the year of Gods favour. However, there’s been a pretty good deal of very critical tax issues this year; Frankly, there is way too much burning tax issues that made and will continue to make headlines this year.
Obviously, there is the fact that a number of countries are still not on track with addressing many relevant tax policy issues, especially the mining tax regime and tax payers trying to brace themselves with any tax changes.
Of course, there was this allegation of Mopani Copper Mines dodging taxes in Zambia and not too long ago, there was this story on Zambia watchdog which read "ZRA Probes Multinational Cotton Company over Tax Evasion". These are just some of the tax issues I can quickly recall that made headlines on the web, and I’m not including other issues like president Obama’s proposed income tax changes for 2011 which some of his critics termed as the ‘largest tax hikes in US history’, rather am limiting it to the tax matters facing our beloved country Zambia.
To my knowledge, there has not been any other comprehensive report on tax issues in the region recently but am aware that Action Aid last November released this critical report 'called calling time on tax avoidance’ which stirred up a lot of debate on a number of accounting practices by multinational companies that conceal the true value of their operations. Though companies like the brewing giant SABMiller refuted these allegations of tax avoidance.
I am writing this article, not with the intention of agreeing or disagreeing with the tax issues raised in this report but merely to contribute to the debate.
Many onlookers however have come to a wild conclusion that some tax policies have failed to achieve the intended objectives. If issues of dodging taxes, closure and asset stripping of companies at the expiration of tax incentive periods are any thing to go by, then this author, unfortunately, comes to the same conclusion.
Do you want to know more about tax policy issues? Then, i would recommend you get this compilation of selected papers on Taxation And Tax Policy Issues
. It is not free but it’s worthy.
. It is not free but it’s worthy.About the Author:
Fixed Asset Consultant at Prosperity Agencies Limited with over 10 years practical experience in physical verification, bar-coding of assets and fixed asset software implementation +260 211 239859
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