BuyZed Campaign has called on government to consider extending tax relief measures to players in the manufacturing and Tourism industries as it prepares the 2021 national budget.
Speaking in an interview with Money FM News, Organization Founder Evans Ngoma observed that most people have suffered unexplained financial constraints due to low business activities in the country resulting from the Covid-19 pandemic.
Mr. Ngoma said as an organization that is anchored on Agriculture, Tourism and Mining, BuyZed Campaign also expects that imports coming into the country for further processing should be tax free.
“People have undergone a lot of financial constraints because of the low business activities, and so us as BuyZed who are anchored on Agriculture, Tourism, Mining, our expectations are that a relief on taxes in the Manufacturing and Tourism industry should be extended to the players so that they can be resuscitated,” Mr. Ngoma said.
He added that it should not be a requirement that one must be VAT registered in order for them to enjoy the VAT suspension but that the benefits should cut across the board.
“When we go into areas of value addition, we expect that the imports that the imports that are coming into the country for further processing should be tax free. It should not be a requirement that one should be VAT registered in order for them to enjoy the VAT deferment but it should cut across the board,” he stated.
And Mr. Ngoma said the organization further anticipates zero rated on production of Ethanol which is one of the major components need for the production of hand sanitizers and other hygienic related products.
“Further, we expect zero rated on production of Ethanol which attracts some Levy, since Ethanol is one of the major components into the production of hand sanitizers and other hygienic related products. So we expect further tax relief on most of the goods,” Mr. Ngoma said.
Finance Minister Dr. Bwalya Ng’andu is expected to present the 2021 National Budget on 25th September, 2020.
