Zambia Chamber Of Mines Report Reveals Planned Introduction Of A Goods And Sales Tax Will Not Benefit The Zambian Economy

By Balewa Zyuulu

A latest report by the Zambia Chamber of Mines has revealed that the planned introduction and implementation of a Goods and Sales Tax regime in January 2020 will not benefit the Zambian economy.

Presenting the report in Lusaka today, Chamber President Goodwell Mateyo says research has shown that proposed ‘hybrid’ sales tax, in its current form must be withdrawn and re-commit to the existing value added taxation-vat system.

Mr. Mateyo maintains that with the current economic situation, going ahead with the proposed tax regime next year will cause a spilling effect which will cause serious joblessness especially in the mining and manufacturing sectors.

He is of the view that going forward, government must focus on fixing the devastating problem of the nonpayment of VAT refunds because in its current form, ordinary Zambians will continue suffering from a very large increase in fuel costs.

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