Business

Tobacco sector wants incentives in 2022 budget

NKOLE MULAMBIA, Lusaka
AS MINISTER of Finance Situmbeko Musokotwane presents the 2022 national budget next month, Japan Tobacco International (JTI) Limited expects Government to provide incentives that will stimulate the growth of the sector.
Head of corporate affairs Litiya Matakala said in an interview in Kaoma recently that value added tax (VAT), customs and excise duty should be given attention.
“The Minister of Finance should look into areas relating to taxes. VAT receivables from Zambia Revenue Authority have been erratic and this hampers our cash flows.
“So we would like us to have and in terms of how we can proceed with VAT claims and then looking at the customs and excise taxes,” Mr Matakala said.
He said the firm is entitled to duty draw back, which is an incentive for tobacco exported which ZRA calculates.
“Since 2019, we have not received duty draw back and this again has an impact in terms of CLICK TO READ MORE




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