Consider reducing corporate tax

THE Bankers Association of Zambia (BAZ) has called on Government to consider reducing the 35 percent corporate tax in the 2019 national budget to pave way for further investments.
A corporate tax is a levy placed on the profit of a firm, with different rates used for different levels of profits.
BAZ chief executive officer Leonard Mwanza said in an interview that reduced tax rates in the banking sector and other sectors of the economy can help stimulate economic activities. “Taxes are too high in the country to attract business. We, therefore, need to look at reducing corporate tax to a marginable percentage that can help to attract investment in the economy,” he said.
Mr Mwanza also said that if the 35 percent corporate tax is reduced, it could help in boosting investments that can translate in growth of the gross domestic product, which is the total value of goods produced and

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