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Sales Tax to be implemented 1st Sept. 2019

The Ministry of Finance has announced that the implementation date of Sales Tax has been moved to first September 2019.
Minister in charge Margaret Mwanakatwe says the bill still has to undergo processed including the second reading, committee stage and the third reading after which it has to go through presidential assent if passed by parliament.
Mrs. Mwanakatwe says the stated processes cannot be completed before the earlier stated first July for implementation.
She has told Parliament that the private and public sectors have continued to make submissions over the same as government continues to sensitize them on the contents of the bill.
The Finance minister says her ministry is working with the Zambia Revenue Authority to engage stakeholders from all parts of the country to get their input on the sales tax bill that was presented to parliament.
The Move comes as experts and other economic players say that policy inconsistencies are one of the major issues that the government has to address as they erode investors’ confidence to invest in the resource rich nation.
The implementation of the move from the Value Added Tax (VAT) regime was supposed to be implemented on the 1st of July 2019.

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