Sales tax implementation deferred
Written by Millennium Radio on March 29, 2019
Sales Tax implementation has been deferred to 1st July 2019 from 1st April 2019 to allow for further consultations.
During the 2018 budget address, Finance Minister Margaret Mwanakatwe revealed that government would abolish Value Added Tax and replace it with the General Sales Tax which was expected to be in effect on 1st April.
But Mrs. Mwanakatwe told parliament this morning that it was envisaged that the process would be completed within the first quarter of 2019, but due to the delicate nature of the assignment, the process has taken time in order to take into consideration the concerns made by stakeholders.
She says significant progress has been made and that the draft bill has been concluded and it will be presented before parliament for the 1st reading on the 2nd of April 2019.
Mrs. Mwanakatwe says it is intended that the second reading and finalization of the bill by the house will be done during the June 2019 session. a