High taxes on mining in Afghanistan is a deterrence for investors as they are not willing to invest in mines (Pic. Courtesy Twitter/@TOLOnews)
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High taxes on mining in Afghanistan is a deterrence for investors as they are not willing to invest in mines.</p>
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The chamber of industry and mines criticized the decision of the Ministry of Mines and Petroleum, which boosted the taxes on mine extraction in the country, reported Tolo News. &quot;These bargains are not going very properly. This is not in the interest of traders, mining and the country,&quot; said Ezatullah Haqmal, head of the mining union in eastern Afghanistan.</p>
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Geologists believe that the Islamic Emirate should consider a balance in taking new steps to improve the mining process in the country, reported Tolo News.</p>
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&quot;A balance should be observed in taxes which is not too high and not too low that can benefit the government and the private sector,&quot; said Abdul Baqi Rahmani, a geologist.</p>
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Meanwhile, an official at the chamber of industry and mines said that the new decision would provide a good income for the government in a short period of time but would also severely affect mine extraction.</p>
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&quot;The taxes increased compared to what the traders expected,&quot; said Rahimullah Samandari, head of the chamber… If we calculate, the taxes increased three times on some of the mines.&quot;</p>
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Officials at the Ministry of Mines and Petroleum said that the new rate of taxes was determined in open bidding by the companies, reported Tolo News.</p>
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&quot;The Islamic Emirate didn&#39;t determine these taxes. The rate was determined in a bid by the companies,&quot; said Fazal Bari Baloch, an official at the ministry. (ANI)</p>
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