ZACCI applauds delayed implementation of new tax regime 

By Staff Reporter

The Zambia Chamber of Commerce and Industries (ZACCI) has applauded the Ministry of Finance for withdrawing the motion of the Goods and Services Tax bill from Parliament.

Commenting on the withdrawal of the motion ZACCI president Dr Chabuka Kawesha said that the decision would allow further consultations and clarity among stakeholders.

Dr Kawesha reiterated that it had been the desire of the private sector for government to allow further consultations on the bill so that its implementation was harmonised.

Addressing Parliament last week, Finance Minister Dr. Bwalya Ng’andu stated that the sales tax bill will be reintroduced during the budget session commencing in September, 2019, in readiness for commencement in January, 2020.

The Minister added that the extension would allow for sufficient time to address concerns in the sales tax bill that stakeholders raised during the comprehensive consultations that were undertaken.

The bill has now been postponed for the fourth time since it was proposed by the Ministry of Finance in the 2018 National Budget.

It was to come into effect on 1st January, 2019 before it was moved to 1st April, then 1st July and 1st September, 2019.

Leave a comment