Q FM Africa's Modern Radio
The Zambia Association of Manufacturers (ZAM) has praised government for maintaining Value Added Tax (VAT) in the 2020 National Budget.
ZAM president Ezekiel Sekele has told QTV News that the introduction of sales tax to replace VAT was a concern to the industry.
Mr Sekele has thanked Minister of Finance Bwalya Ng’andu for listening to the concern of all stakeholders.
He says what government needs to do is to address the gaps and weaknesses in the administration of VAT.
Mr Sekele has observed that changing a tax system midway is disruptive and not motivating to investors and as it shows lack of consistence in implementing policies.
In the 2019 budget, government had proposed to abolish Value Added Tax and replace it with Sales Tax, a move that created uncertainty.