5 C
Alba Iulia
Monday, February 24, 2020

Progress has been made in drafting the new Goods and Services Tax

Economy Progress has been made in drafting the new Goods and Services Tax

Minister of Finance Margaret Mwanakatwe
Minister of Finance Margaret Mwanakatwe

The ministry of finance says government has made steady progress towards the drafting of the Goods and Services Tax (GST) that will come in effect on 1st April, 2019.

Finance Minister Margaret Mwanakatwe says her ministry has come up with a draft legal framework that it is yet to be approved by cabinet before the end of this month.

She has told journalists in Lusaka that once cabinet approves the document, it will be circulated widely for public analysis and feedback before it is presented to parliament for debate and consideration.

Ms. Mwanakatwe has reiterated that the introduction of goods and services tax will significantly contribute towards improving cash retention.

Last year Finance Minister Margaret Mwanakatwe announced during the 2019 budget presentation that government will abolish value added tax (vat) and replace it with a non-refundable sales tax in April 2019, a move likely to help the government boost revenue collection and bring down mounting debt.

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  1. Mwanakatwe exemplifies how cluesless PF under Edgar Lungu. She went to Parliament last year in September and announces a tax they has not thought through. Has she paid back the CEC loan?

    • Instead of implementing austerity measures, they would rather kill the goose that lays the golden eggs.
      50% of all taxes are going to civil servants salaries especially the Lusaka-based, who are globe-trotting so as to earn the $500/day imprest allowances.
      The rest is now going to pay for debt-servicing leaving nothing for hospitals, schools etc.

      PF was voted on big lie “more money in YOU pockets”.
      They should change their slogan to “More taxes & debt for YOU, more money & luxury in OUR pockets”.

  2. Drafting a new goods and services tax because they borrowed too much.This GRZ of Lungu is very reckless and irresponsible with $$$.

    • Enka…..its not about that…VAT is a system which our colonial masters left, its been used in unip,mmd refunds have been depriving government the much needed resources to develop our nation this is why the pf government thought of replacing the VAT with sales tax, Sale tax once it becomes law ,government will no longer have to refund anyone. VAT government sends over 300 million on refunds, This is the very money the pf government wants to use building hospitals,health post,schools etc Mind you ,the pf government wants to help your sisters and brothers in rural areas so that they can have access to education,school etc. Look at Lusaka hospitals are easily accessible, why then should rural people not have access! The pf government the working government. Look at what has been achieved…

    • Gees
      Typical PF,arguing without facts.Do you even realise that all prices will rise once they implement it?Unlike VAT which is refundable Sales Tax as you put it yourself is not,so expect to have fuel going up,electricity going up all items on which it will be charged shall increase,then the redundant PF shall start fighting those that shall oppose it,what a useless government, VAT is tricky for them because they lack fiscal discipline…

  3. Such development is a real threat to ba under5, they hate progress,development. You wait and see how sa.tanic under5 MP will behave in parliament.

    • @ gees
      Do you knew when VAT was introduced in Zambia? Stop spreading fake news. What “colonial power” has to do with VAT? As to threat to “under 5”, you wish that you had 0.01% of his business acumen.
      Just shut your filthy arshole.

    • Actually VAT should not be a cost at all. It is the money paid by companies which should be given back to them. With sales tax, we will suffer as consumers because all the cost incurred by companies will be past on to us plus encouraging more corruption. I really do not know what we are trying to achieve here.

  4. The whole world moved away from sales tax to a more realistic VAT but because this govt can’t keep its fingers away from the cookie jar, they misappropriate the money collected and end up owing companies huge amounts in VAT refunds. Now who is going to pay for the huge cost of changing all the IT systems currently in use designed for VAT? Some people wont be paid – ‘payroll system down, waiting next version release next year’!

    • The USA and other countries do not use the VAT system..Maybe you can hoodwink your fellow UPND danderheads and sycophants and enemies of progress but not the enlightened progressive majority of the Zambians

    • @ Fwanya

      And you !mbecile are member of “enlightened progressive majority”?
      Come down from your perch and start licking crumbs left to you by your “enlightened and anointed endemically corrupt leader”.
      In USA each State has its own equivalent to GST (by the way, you can claim input).

    • @ Truth.. The danderhead has just confirmed my point above that he’s into group think mentality of typical UPND sycophants and zealots and enemies of progress kikiki

    • India still gst
      Sales tax is not new to zambia.it was there b4 1995 @ 4% i think.
      VAT has lots of loop hole.good riddance!

  5. So all the pronouncements and glee last September were based on a non -existent system? Do they have enough time between now and April 1 to consult, finalize and implement? This looks like we are heading for chaos

    • Am also suprised Aunty Dizzy talked like everything was in place for this retrogressive tax,typical even legislation is not in place,am sure they havnt even factored in costs of the exercise…

  6. This tax was brought because mines keep claiming big vat refunds into billions
    Which government can’t pay.so to avoid
    This claim it is bringing sales tax.we owe
    Billions to mines and they are refusing to
    Pay until they are refunded.

  7. My thought was, this was already completed. Still in a draft copy two weeks to go before 1st April..? Very sad..! So, it is something they want to rush through…?

  8. Chipante pante govt, full of drunks and Kaponya`s with 0 IQ, PFoools a party of stup!ty people and dander heads, they think they are running a katemba

    • Uba utumaso……..your party cow mafi eaters is the one that is chipantepante with a ka demi god called hechihechi at the helm…faggots

    • Noko n!mbwa iwe cadre, dander head, just go and dance at the airport for the debarred drunk who pees himself maybe your children will have a meal today….. useless piece of sh!t cadre

    • Our current crop of cadres use bad smelly language and fight. It is like having boxers in the ring just standing there while the supporters do the fighting. Senseless.

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