If you raise the tax rate you get more tax revenue, right? Not necessarily. Raising tax rates beyond a certain point can have the opposite effect, and actually produce lower taxes.
Did you know? Governments receive more taxes from increasing production than from overtaxing existing production.
A comparison of 2018 and 2019 shows that there were higher tax rates, but lower tax revenues.
Did you know? Zambia is very likely to drop off the global ‘Top 10’ copper producers very soon.
The Chamber of Mines’ message is clear: ‘Only through growth can we deliver more.’
Read more of the Chamber’s research on Sales Tax