ZRA Launches Tax Incentives Bulletin
… Banda says the New Resource Aims to Support SMEs and Boost Economic Growth
By Francis Maingaila and pictures by Jean Mandela ♥️
Lusaka, Zambia24 – (3-08-2024) – The Zambia Revenue Authority (ZRA) officially launched the Tax Incentives Bulletin today, marking a significant milestone in supporting the nation’s small and medium-sized enterprises (SMEs).
According to Dingani Banda, ZRA Commissioner General, the bulletin, introduced as a comprehensive guide, aims to enhance economic development by providing detailed information on available tax incentives designed to benefit SMEs.
Banda told journalists during the launch at the showground about the vital role of tax incentives in creating a favorable environment for business growth.
“Tax incentives are a vital component in spurring investment and driving economic advancement,” he stated.
“This initiative represents a pivotal step towards promoting economic development in our country.”
“The Tax Incentives Bulletin consolidates various tax incentives from existing tax legislation, providing businesses with valuable insights into how they can leverage these incentives to stimulate growth, drive innovation, and create job opportunities,” he added.
Banda highlighted the importance of this resource in supporting the entrepreneurial spirit essential to Zambia’s prosperity.
“The ZRA is committed to implementing these incentives and assisting the government in monitoring their effectiveness,” Banda noted.
He urged business owners, entrepreneurs, and industry leaders to thoroughly review and utilize the incentives outlined in the bulletin.
“The government’s commitment to alleviating the financial burdens on SMEs through targeted tax incentives aims to enable these businesses to reinvest and expand their operations, thereby contributing to a more vibrant and robust business landscape in Zambia,” he added.
Banda expressed his gratitude to all involved in developing the bulletin, expressing confidence that it will serve as a catalyst for positive change in Zambia’s business environment.