North Western Chamber of Commerce ,Trade and Industry has applauded government for maintaining the sales tax as indicated in 2020 national budget..


North Western Chamber Of Commerce, Trade and Industry Says the chamber started the year 2019 with a challenging economic outlook.

Speaking during the general meeting of the north western chamber of commerce trade and industry held at Floriana lodge Chamber President Mukumbi Kafuta Said owing to the proposed fiscal policies, ranging from the proposed shift from value added tax to sales tax and the introduction of various taxies more especially in the mining sector.

Mr Kafuta said that the proposed number of taxes by government created uncertainty in the economy as proposed changes fiscal policies had a negative impact on the captains of industries as well as affecting small and medium enterprises due to the castigating effects that sales tax would bring.

 He said that the chamber observed panic in the mining sectors as some workers were even laid off, termination of contracts as the mine projected a huge drop in their income because of the sales tax which was going to be introduced.

Mr Kafuta further said that the chamber engaged all key players to get their views on the proposed sales tax which were later submitted to government.

He said that the chamber is proud to note that government listened to the views of the people which were submitted on advantages and disadvantages on the proposed sales tax as indicated in the 2020 national budget.

The chamber president said the Minister of Finance Dr Bwalya Ng’andu has clearly indicated that value added tax will be maintained.

He further said that immediately the minister of finance made the pronouncement that government will not go on to implement the sales tax, the economic fundamentals improved and the economic outlook appears positive.

However, mr Kafuta says now that value added tax has been maintained, there is need of the business community to increase their compliance levels in paying tax to the Zambia revenue authority.

 He has since encouraged the business community to keep proper records to avoid tax disputes and ensure that tax compliance is adhered to.

Mr Kafuta says when tax compliance is not adhered to,can cause disruptions in the operations of  any  business.

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