More taxes increased without consultation introduced after budget
Amb. Emmanuel Mwamba writes
More taxes increased without consultation introduced after budget
Zambia Chamber of Commerce and Industry (ZACCI) says it is concerned about the lack of consultation between Ministry of Finance and the private sector on the recently implemented post budget taxes for the 2025 fiscal year, which introduces increases across various sectors…
New post budget taxes include;
● increase in Mobile Money levy,
●rise in Property Transfer Tax from 5% to 8%,
●Rental Income Tax from 12.5% to 16% for those earning above K800,000, annually in rental income, and increase in fringe benefits add back for personal to holder cars.
●Turnover Tax to 5% and threshold to K5 million, limit use of losses to 50% of profit and ● reintroduce export tax on gemstones and precious stones at 15%.
