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*RBZ Amends Laws On Deductions From Mining Exports Receipts* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?oq The Reserve Bank of Zimbabwe (RBZ) has announced that deductions from mining export receipts will no longer be deducted by the Minerals Marketing Corporation of Zimbabwe. Pindula News present below the statement issued by the RBZ on Thursday. > DEDUCTIONS FROM MINING EXPORT RECEIPTS BY THE MINERALS MARKETING CORPORATION OF ZIMBABWE > The Bank has received numerous requests from mining exporters on the need to continuously improve the ease of doing business arising from complications around payment of fees and commissions to the Minerals Marketing Corporation of Zimbabwe (MMCZ). > To make payment of statutory deductions easy for exporters of minerals, with immediate effect, all commissions and royalties that are due and deductible at the point of receipt of export proceeds will no longer be deducted by MMCZ. All applicable taxes shall now be paid to the Zimbabwe Revenue Authority (ZIMRA) in the normal manner. > The above measures mean that exporters of minerals can export their minerals and receive their export proceeds from their customers without any deductions by MMCZ. > The current 60% retention threshold on all export proceeds remains applicable. Government Repossesses 80 ‘Idle’ Mining Concessions FULL TEXT: Rebate Of Duty On Goods Used In Mining Industry ZANU PF Targets University Women For Mining, Agricultural Projects Govt Repeals ‘Prohibitive’ Mining Fees Hike More: Pindula News ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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