New Law Sets Jail Time for Late Mining Payments in Zimbabwe.
Zimbabwe just made it clear: Pay your mining fees on time, or face jail. The new Finance Act warns mining firms to hand over royalties when due.
Late payers could spend up to six months behind bars. They must also pay extra fees that grow each day they miss the deadline. The finance minister picks how much extra they must pay.
The tax office can give more time if needed. But anyone who skips payments without a good reason faces trouble. The rules say miners must pay with both local money and some of the minerals they dig up.
The tax chief will tell late payers to fix the problem fast. If they wait more than a week, they start paying $30 each day. This goes on for about half a year.
Anyone still behind after that time breaks the law. The court can jail them or fine them a lot. The money goes straight into the nation's bank account.
The tax office might forgive some fees if people make honest mistakes. But miners must keep paying their share during any court cases about these rules.
These strict rules aim to keep mining money flowing into Zimbabwe's treasury. The country needs these funds to help run the government and serve its people.
The law shows Zimbabwe means business when it comes to collecting mining money. Pay on time or deal with hard times—that's the simple message to all mining firms.
Zimbabwe just made it clear: Pay your mining fees on time, or face jail. The new Finance Act warns mining firms to hand over royalties when due.
Late payers could spend up to six months behind bars. They must also pay extra fees that grow each day they miss the deadline. The finance minister picks how much extra they must pay.
The tax office can give more time if needed. But anyone who skips payments without a good reason faces trouble. The rules say miners must pay with both local money and some of the minerals they dig up.
The tax chief will tell late payers to fix the problem fast. If they wait more than a week, they start paying $30 each day. This goes on for about half a year.
Anyone still behind after that time breaks the law. The court can jail them or fine them a lot. The money goes straight into the nation's bank account.
The tax office might forgive some fees if people make honest mistakes. But miners must keep paying their share during any court cases about these rules.
These strict rules aim to keep mining money flowing into Zimbabwe's treasury. The country needs these funds to help run the government and serve its people.
The law shows Zimbabwe means business when it comes to collecting mining money. Pay on time or deal with hard times—that's the simple message to all mining firms.
