- Mozambique revoked Kenmare’s VAT exemptions by removing Moma’s ‘Industrial Free Zone’ status.
- Loss of VAT exemptions could cost Kenmare $25 to $40 million per year.
- The sudden VAT policy change was imposed without Kenmare’s approval and is under dispute.
- Kenmare may pursue legal action if VAT and tax negotiations with Mozambique fail.
Source: miningmx.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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