By 
Energy enthusiast, Dr Johnstone Chikwanda, has called for the investigation, arrest and prosecution of traders or importers involved in renewable energy products incentive theft.
Chikwanda said these players were not passing the incentives to the intended beneficiaries, despite government’s move to zero-rate customs duty and Value Added Tax (VAT) on renewable energy products.
In a statement issued in Lusaka on Sunday, Chikwanda noted that the government zero-rated customs duty and VAT on renewable energy products to make them more affordable for citizens.
He expressed concern that despite this move, prices have continued to escalate, nearly doubling since the commencement of load-shedding in March this year.
“The combined waived taxes on these products are more than 30 percent. Even if the exchange rate has been unstable, it cannot wipe out the total waived value due to removed taxes,” Chikwanda said.
He stated that there was a possibility of incentive theft taking place in the supply chain, which he described as white-collar organised crime.
“This kind of crime has successfully been prosecuted in other countries, including those in Europe,” Chikwanda highlighted.
President Hakainde Hichilema warned traders of renewable energy products who were not passing the incentives to the intended beneficiaries.
Hichilema issued this warning during a media briefing held at the State House on Wednesday, June 5, 2024.
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