Business

Tax amnesty extension good – business consultant

BUTTYSON KANDIMBA, Solwezi
A SOLWEZI-BASED business and development consultant Amos Mpenge says the extension of the tax amnesty will enable more clients to offset their outstanding tax to Zambia Revenue Authority (ZRA).

Minister of Finance Felix Mutati announced the extension of the deadline for tax amnesty, which was supposed to end on July 31, 2017, but was extended by another 30 days.

In a statement issued on Wednesday, Mr Mpenge commended Government for extending the deadline to enable clients meet their tax obligations.
“Government, through the Ministry of Finance, should be commended for extending the tax payment amnesty that came to an end on July 31, 2017 to August 31, 2017.
“Looking at the current business environmental challenges that the business community is faced with, such as low sales…this extension exercise should be commended [as] efforts being made to recover from economic shocks,” Mr Mpenge said.
He cited power outages and poor performance of the currency as challenges faced in the last two years.
Mr Mpenge said the extension could have a positive impact on the government resource envelope by enabling the central government meet major budgetary pronouncements in the 2017 financial year.
He also said the amnesty will enable small and medium-scale enterprises (SMEs) to thrive as they are catalysts for business growth.
“This will see most SMEs saving huge sums of money they were supposed to pay to ZRA as penalties as they are allowed only to meet the principal amounts,” Mr Mpenge said.
He called on ZRA to sensitise people on the importance of remitting tax to the authority.

 

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