Spare MFEZ investors from corporate tax

MUKELA Lubasi.

LUSAKA South Multi Facility Economic Zone (LS-MFEZ) says corporate tax should not be extended to companies operating in the area to attract more investment.
Since inception in June 2010, the economic zone has received pledged investment of about US$1 billion in various sectors, including agro-food processing, tobacco processing and milling plants.
This has translated into a total of 15 companies being set up in the zone with total actualised investment levels of US$245 million.
LS-MFEZ chief executive officer Mukela Lubasi, however, said the facility has not attracted a lot of investments this year because companies interested in investing in the zone have not been spared from paying corporate tax.

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