Finance and National Planning Minister, Situmbeko Musokotwane has called for increased tax compliance among businesses and individuals for the country to achieve economic growth.
Speaking during the 2023 Zambia Association of Manufacturers pre-budget meeting, Dr Musokotwane said increased remittance of taxes by businesses and individuals will not only lead to economic growth but tax rates will also reduce.
He noted that only less than 30 percent businesses and individuals pay tax currently, a situation which has led to high tax on businesses and individuals.
“For us as Government, we are very clear, first of all, of course we must pay taxes, we must pay taxes because as country we do something, for instance children need to go to school, that is a collective responsibility. It is like a club paying contribution so that you undertake all the responsibilities.“We are aware that these taxes promote growth or kill growth, we are fully aware of that,” he said.
Meanwhile, ZAM president Ashu Sagar has asked for specific tax incentives for the manufacturing sector.
And Civil Society Organisations have called on government to collect taxes under the United Nations Framework rather than the Organisation for Economic Cooperation and Development interest.
speaking on behalf of the CSOs, ActionAid country Director Kabinga Musonda has called for inclusive platforms to address global tax concerns which require a un tax convention and a un tax board for equal participation.
Mr Musonda said, un tax convention and un tax body provide better opportunities to address international tax challenges such as harmful tax practices propagated by multinational enterprises, profit shifting and outdated tax treaties.
Author
