The Civil Society organisations have proposed an increase in the tax exemption threshold for Pay-As-You-Earn from K1 million to K1.3million per month in the 2012 budget.
The organisations that include the Civil Society for Poverty Reduction and Action Aid, have also proposed an increase in the exempt portion of the income paid upon termination of employment from the current K35 million to K50 million.
Presenting the tax and non-tax proposals ahead of the budget presentation CSPR Program Officer for Advocacy, William Chilufya said the tax credit for differently abled persons should also move from the current K3 million per year to K6 million.
Mr Chlilufya was speaking in Lusaka on Thursday during a media briefing on the organisations submissions to the Ministry of Finance for the 2012 budget.
The Budget is due to be presented to parliament in two months.
He says the organisation also want mineral royalty tax to be increased from the current three percent to five percent.
The organisation also called for the introduction of toll gates that will charge about K250 000 per truck.
[ZNBC]
Number one
I am a bit dissapointed by these CSOs. How can they recommend tax exemption from K1 million to K1.3 million? Are they not these same CSO that tell us that the basic needs basket is somewhere around K2 million? The tax exemption should be increased to match the basic needs basket. For how long will Zambans sweat for politicians to come and benefit? Just look at the campaigns by MMD, the adoption processes in various parties were marred by corruption and money given to former MPs as gratuity, our own money, was used to bring confusion. We need to clean this Zambia of ours of dirty politics. God deliver us!
What about Windfall tax. I hear Konkola owners are building a University called Konkola University in India. When is Zambian government putting up a new university after all the copper we have so that we can call it RB University?
the proposed tax exemption upon retirement is low because one has say worked for 25 yrs and has been paying tax and u still expect him to pay more on the terminal benefits.a figure above k50m is better of so that the person remains with some money to begin from in retirement.
Make it K2M.
Just reduce tax rate to 3%.
EVERY income must be taxable! Reduce the tax (percentage) for low income earners, but don’t get rid of it. Zambia needs money, a lot of money for infrastructure development, schools, hospitals, orphanages etc … [And PLEASE, don’t shoot me:)]
It looks like RB is doing well running the country. In the USA we have a saying that goes: “If it aint broke don’t fix it.” Maybe this dude should be given another term after all. Of course my number one choice in this race is HH. He has a vision and he is a proven performer. Zambia needs him badly. Vote wisely. Vote HH or RB. Vote often and vote early.