Finance Minister Margaret Mwanakatwe says the public and private sectors should strengthen their partnerships in developing Zambia and marketing the country’s wealth creation prospects to citizens, the region, and off-shore.
Mrs. Mwanakatwe says the introduction of the Goods and Services Tax on 1st April, 2019, is not only a path of best practice but it will also eliminate the unsustainable and laborious process of VAT refunds.
“We are constantly in a refund position, it is unsustainable, hence us going to GST, just like America, just like Australia, just like India, just like Malaysia,” she demonstrated and further stated that, “Zambia is following best practice and we are ensuring that we can fully engage the public before the implementation date.
The Minister was speaking when the Zambian delegation toured mining sector exhibition stands at the on-going 2019 Mining Indaba, in Cape Town, South Africa.
Among the Zambian stands visited were those of the Copperbelt Energy Corporation, ZCCM-IH, Vedanta – Konkola Copper Mines, and the Ministry of Mines and Minerals Development.
During the Mining Indaba, the delegation has attended various sessions and held country promotion side events at which economic policies and programmes were explained.
Mrs. Mwanakatwe has described the Indaba as a good platform for investment promotion. She has since returned to Lusaka.
This is according to a statement issued by Chileshe Kandeta, the Ministry of Finance spokesperson.