ZAMBIA: Budget at a Glance

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- VAT on agricultural equipment and spares zero-rated.

- Excise duty on clear beer reduced from 75 to 60 per cent

- Windfall tax on copper removed.

- Customs duty on various capital equipment scrapped

- Social sector allocated K4.4 trillion, ov


– PAYE exempt threshold increased from K600,000 to K700,000

– Tax credit for differently-abled persons increased from K600,000 to K900,000 per year

– Income tax rate on profits from the export of cotton increased from 15 to 35 per cent.

– Export levy on cotton seed increased from 15 to 20
per cent.

– Customs duty on cellular phone handsets increased from five per cent to 20 per cent.

Post published in: Agriculture

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