The Minister of Finance Nicolas KAZADI and the FEC agreed work in collaboration for the development of the private sector in DRC

(MENAFN- Mkakati) The Minister of Finance, Nicolas Kazadi, continues his mission within the context of social dialogue with the various partners of the Congolese government regarding the intensified mobilization of public revenues, in order to materialize the vision of the President of the Republic His Excellency Felix Antoine Tshisekedi Tshilombo. The goal is to simultaneously clear the ground to rebuild trust between the taxpayers and the Congolese State while reinforcing mechanisms of transparency by highlighting the legality and respect of commitments.

On this Wednesday, August 4, 2021, the Finance Minister exchanged with a few core members of the Federation of Companies of Congo (FEC) at their facilities. The purpose of this session was to discuss some of the concerns of this corporation which the Minister qualifies as a market through which the State collects tax. The suspension of exemptions and the debate on the VAT for mining operators were among the matters discussed.

Concerning the suspension of the exemptions since last September 2020, the President of the FEC, Mr. Albert Yuma, requested a review of measure which could hinder the good functioning of many companies in the private sector. In response, the Finance Minister stood firm in his intentions to follow the correct procedures.

The Minister of Finance recalled that for the State to respond favorably to the concerns of its population in this regard, it needs to have sufficient resources to respond positively. Nonetheless, he estimated that this question and many others would find satisfactory responses during the detailed meetings henceforth. The Finance Minister, Nicolas Kazadi, neither sided with the FEC or the General Directorate of Customs and Accise (DGDA). However, he still criticized the previously granted exemptions that systematically violated the legal provisions attached to them and made the public treasury lose a lot of money.

Notwithstanding the multiple concerns expressed by the members of the FEC, the Finance Minister aimed to clarify things by mentioning the payment of the VAT whose litigation was a cause for suspicion. With respect to this, the Minister, Nicolas Kazadi, intends to establish a commission whose objective will be to ensure lasting social peace.
The Minister of Finance also gave the example of the resolved conflict between the DGDA and Rawbank, which
amounted to more than 3 billion US Dollars. Naturally, this result was well received as the desired outcome is to
ensure the real development of private companies.

This initial meeting between the Finance Minister, Nicolas Kazadi, and the FEC allowed both parties to build a solid
foundation on which the shared desire to create a middle class through perpendicular entrepreneurship can take shape as the initiative is supported by the investment fund for the diversification of the Congolese economy.
 

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