ICT stakeholders propose 5-year tax break for startups, small businesses

Players in the telecommunications sector have proposed a five-year tax break for Information Communication and Technology (ICT) start-ups and small businesses.

The players have also proposed sustainable allocation of funds towards establishments of integration centres to support ICT start-ups and small businesses.

Making submissions on the 2024 national budget framework on Wednesday in Lusaka, Infratel Zambia, a telecommunications company through its representative, Austin Mudenda, said it was important to give tax breaks to ICT start-ups and small businesses.

“We want to see financial incentives and five-year tax breaks for ICT start-ups and small businesses.

“We also want to encourage Public Private Partnerships (PPPs) to promote innovation and collaboration between the Government, academia and private sector,” Mudenda said.

Mudenda also proposed an allocation of funds for the establishments of integration centres and start up support to nature and accelerate the programmes of ICT start-ups.

He explained that this proposal was aimed at supporting digital entrepreneurship and innovative.

Another proposal made by Mudenda was the establishment of a dedicated national cybersecurity agency.

He stated that this would assist in strengthening cyber security and data protection.

“Invest in cybersecurity awareness programmes to foster innovation in this domain. Investments in the ICT will yield economic benefits in Zambia,” he pointed out.

According to Mudenda, these proposals outlined key recommendations for the 2024 national budget to promote development and expansion of ICT sector in Zambia

He said they were also meant to enhance digital infrastructure and connectivity across the country to foster encourage growth of digital entrepreneurship and innovation.

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