• First quarter approved budget target for total revenues and grants, was projected to be K16.3 billion.
• 2022 National Budget preparations and 2022-2024 Medium Term Budget Framework. commence.
• All citizens are invited to make proposals on tax and non-tax policies for possible inclusion in the 2022 National Budget.

Ministry of Finance has disclosed that actual revenue collected from January to March, 2021 amounted to K18.5 billion above the 13 percent target.

Addressing the Media in Lusaka, Secretary to the Treasury, Fredson Yamba said the first quarter approved budget target for total revenues and grants, was projected to be K16.3 billion with K12.4 billion to come from taxes, K3.3 billion from non-tax revenues and K469.6 million from grants.

Mr. Yamba noted the over-performance was mainly driven by payment of Pay As You Earn (PAYE) tax arrears, upward amendments of provisional returns and advance payments by both Mining and Non-Mining firms.

“With regard to Government spending, total expenditures (including amortisation) in the first quarter of 2021 stood at K22 billion,” he said.

“This was 23 percent below the projected K28.6 billion. Notable expenditures included K6.6 billion for Personal Emoluments, K3.2 billion for the Use of Goods and Services, K2.5 billion on Non-financial assets and K2.5 billion on transfers and subsidies,” The secretary to the treasury added.

Meanwhile Mr. Yamba has disclosed that Ministry of Finance has commenced preparations for the 2022 National Budget and 2022-2024 Medium Term Budget Framework.

“As the Nation continues to embrace a multi-sectoral development approach, it is important that Government undertakes countrywide budget consultations to get the input of all stakeholders,” he noted.

The Country’s fiscal deficit remains high and there is need to continue formulating revenue policies that will enhance revenue collections while promoting our development agenda, according to Mr. Yamba.

He explained that, “The 2020 and 2021 fiscal years required Government to take measures to cushion the impact of Covid-19.”

“While this was imperative, there is need to formulate a medium-term policy that will put the country back on a trajectory that will achieve fiscal consolidation,” he added.

The Secretary to the treasury had since invited the general public, private sector players, and non-state actors to make proposals on tax and non-tax policies for possible inclusion in the 2022 National Budget to ensure broad based consultations.

He says the timely call for tax and non- tax proposals is conducted in the spirit of ensuring that the consultations for the 2022 National Budget are broadened in line with the policy of streamlining taxation and creating an enabling environment for business.

Mr. Yamba, however, guided that the proposals should be made having regard to four areas namely; increasing tax revenue and broadening the tax base, Simplifying and modernizing of tax system, increasing tax compliance; and, Re-aligning and streamlining tax incentives.

He also urged, “all citizens including the youth, women’s groups, persons with disabilities, private sector, and all other stakeholders to take part in the budget preparation process, by making submissions of tax and non-tax policy proposals for the 2022 National Budget.”

“The tax and non-tax proposals should be submitted to the Ministry of Finance in both hard copy and soft copy from today up to 30th June, 2021.” he advised, however the details of the office and addresses to use to submit these proposals will be available on the Ministry of Finance website and print media.

“May I also indicate that all proposals will be given due attention and consideration because we value your input into this budget process,” said Mr. Yamba.