Friday, March 29, 2024

Private sector hails government for waiving VAT rule 18

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The Zambia Private Sector Alliance (ZPSA) has expressed happiness with government’s move to waive the Value Added Tax (VAT) rule 18 clause.

The VAT rule 18 clause requires exporters to submit import certificates from destination countries in order to claim VAT funds.

ZPSA chairman, Geoffrey Sakulanda, says the rule did not only affect the mining companies as sectors of the public earlier stated but affected all exporters regardless of the sector.

Mr Sakulanda says his alliance is happy that this barrier has been removed, adding that the claims to be made available to business houses will be ploughed back in the production cycle.

In an interview with ZANIS in Lusaka today, Mr Sakulanda, added that the claims will also help the expansion of business and help create more jobs for the Zambian people.

He said his organisation will continue to engage government in various developmental issues aimed at creating employment opportunities for Zambian people.

Mr Sakulanda charged that it is only through meaningful dialogue between Government and the private sector that a number of business ideas and strategies to address them can be devised.

9 COMMENTS

  1. ZRA can you please give that building a new lease of life by repainting it.It looks like some of those buildings in the war raged Eastern Ukraine.

  2. Why has it been waived? I believe it was introduced for good reason.Please ba PF,when are you going to stop being clueless on most decisions you take?

    • The “good reason” was not to refund the VAT claims under spurious reasons. PF has since accumulated $600m interest free loan, probably used for by-elections. It is now time to revert to normal VAT administration. PF have no vision and no experience in managing national resources.

  3. One of the saddest days in mother Zambia’s history. The rule helped to cage unscrupulous business men from reaping from the state without any service rendered i.e., exports made. How will government verify that the goods have really been exported? How will government be sure that the true value is as indicated by the exporter without this certificate or indeed evidence of receipt by the importing party? I smell a rat, a fat one and it is stinking. Zambians are being taken for a ride daily by politicians who want to believe that they can steal directly from the treasury, and indirectly through taxes, corrupt deals with businesses and through their own tuntembas. may God look down and save our country

  4. I commend the Economics Association of Zanbia for their statement on VAT Rule 18. It has given a simple, sober and factual analysis of the subject. As I have stated before, credible people like EAZ needed to clarify the subject and counter the nonsense, deliberate misinformation, downright lies, and even ignorance by Mmembe and his Post who are taking advantage of gullible zambians (the ones referred to by kabimba as uneducated). The Post has deliberately personalised the twisted the subject to the extent that now they are claiming that ZRA has u-turned. Note that now they have shamelessly gven up the stupid line to take Hon Chikwanda to a tribunal. Let the Minister do some work you Post morons and your ignorant stooges!

  5. Look at the Post, now touring a Makesa Kalifungwa as “Financial management and banking expert”. My foot, if the guy has been quoted correctly in today’s Post and other editions before, the guy cannot even analyse the issues. And they call copper concentrates as exporting soil! Come on ba Post and your publicity seeking ignoramases, be educated that concentrates have a defined and verifiable percentage of copper, it is semi-processed copper. Please research, do not lead innocent citizens astray just because they are either uneducated or not privy to facts and information!

    • Zambians must not be arm twisted or hoodwinked if you want to make a refund claim basic principle you provide credible documentation simple.Why is switzerland the major export destination for Zambian copper when they are not major copper products producers but known for banking havens and tax havens most Large copper mines owned by western countries have their buying offices in either Switzerland or dubai as for other sectors that want refunds just get your books right and provide correct documentations it a general rule why should we waive it and allow for loopholes that will see us have loss of revenue.AS FOR A COPPER CONCENTRATE WE ALL KNOW WHAT IT IS WE ARE SAYING “SOIL” CAUSE IT LOOKS LIKE IT AND IT’S GOING UNTAXED WHEN IT HAS PLENTY OF VALUE.

  6. And the amendment of VAT rule 18 does not say that no form of documentary proof is now required as the Post now falsely claims!
    Gents, cant we be honest just once, especially with important national issues? Is it that difficult to say the truth even if just once in your lifetime!

  7. Its good now up the research in Financials and Analysis creating a data base of reported and un reported financials on those entities

    Work on techniques and methods of detecting forged certificates also to support VAT 18 by multinationals including other logistical documents

    Otherwise it becomes futile again

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