An independent organization will begin monitoring mineral exports in Mozambique to combat tax evasion in the trade, the Ministry of Mineral Resources and Energy said.
“What happened is that a thousand tons of a mineral with a certain specification and price was announced to be sent to a ship from the national port, but 1,500 tons of another mineral with a very high specification and price mysteriously arrived at the destination. on the same ship,” said Elias Daude, director general of the National Institute of Mining (Inami), in a statement to NewsMozambique’s largest daily newspaper.
Daude said an independent company that will oversee the sale of minerals mined in Mozambique is in the process of being selected and will begin operations soon.
He noted that the State of Mozambique has suffered millions of dollars in losses due to the practice of under-billing by companies in the mining sector due to ineffective controls over activities, mainly in the export sector.
Taxes levied on companies, he continued, are based on the production volumes declared by the companies, and not on an independent calculation by the authorities.
Author: Lusa
Source: CM Jornal
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