By 
Finance and National Planning Minister, Situmbeko Musokotwane, has denied claims that Zambia offers tax holidays or favourable tax regimes to foreign investors, dismissing the allegations as a “big fallacy.”
Speaking during a town hall meeting at the Mulungushi International Conference Centre in Lusaka on Tuesday, Musokotwane stressed that taxes in Zambia were applied uniformly across the economy.
“There is also a tendency of saying tax holidays or favourable taxes for foreigners, another big fallacy. Taxes apply equitably or uniformly to everybody in the economy—that is what it is,” he stated.
The Minister clarified that no tax holidays were granted to the mining sector, urging stakeholders to be better informed about Zambia’s tax policies.
Read more: More stakeholders push for removal of 15% export duty on emeralds
He added that misinformation about the government’s tax approach only serves to mislead the public.
“About tax holidays for the mining industry—colleagues, let us invest in some knowledge. There are no tax holidays on mines. If I am wrong, tell me. I have even checked with the commissioner general, Dingani Banda, and there are no tax holidays on mining. There are only taxes, which means you make profits, you pay taxes,” Musokotwane explained.
The Minister also addressed concerns that the government is solely focused on increasing taxes without making reductions elsewhere.
He emphasised that this narrative was inaccurate, reiterating the government’s commitment to equitable and transparent tax policies.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments