Maputo, 19 Jun (AIM) – Mozambican government wants to stop under-invoicing and tax evasion in the mineral sector by introducing prices in force in the international market.
According to a source from the Ministry of Economy and Finance, cited in Monday’s issue of the Maputo daily “Notícias”, the under-invoicing of mineral goods obtained in Mozambique, without the proper assessment, has been causing losses of many millions of dollars every year.
“The taxes charged to mining companies have so far been based on the prices that they [the same companies] declare. There is a huge risk that these companies declare lower prices than the real ones, aiming to reduce the taxes that they must pay to the state”, said the source.
According to the government’s Economic Acceleration Package, under implementation over the past year, it was found that the country has suffered an average annual loss over the past 10 years, of about 1.6 billion dollars due to under-invoicing and other mechanisms of tax evasion.
(AIM)
Ad/pf (172)
