Government has Announced a decision to Waive off Tax Penalties and Interest on outstanding tax liabilities resulting from the impacts of Covid-19.
Minister of Finance Bwalya Ng’andu says the Zambia Revenue Authority will soon issue guidelines on the criteria on who qualifies and other related modalities.
Speaking during a press briefing in Lusaka today, Dr. Ng’andu disclosed that Government will extend the list of medical supplies that are not subject to Import Duty and Value Added Tax for an initial period of 6 months.
He said that the complete list comprises 38 individual items which include testing equipment, protective garments, thermometers and disinfectants among others.
Dr, Ng’andu said that all these measures are meant to protect companies from collapsing under the weight of coronavirus Pandemic.
And Dr. Ng’andu has disclosed that Zambia has applied to the World Bank, the African Development Bank and Afreximbank to be considered for support under their various Covid-19 Emergency Funds.
Dr, Ng’andu further disclosed that Zambia’s Bilateral discussions have also commenced with several G20 countries on the postponement or rescheduling of debt service payments over a period to be agreed in the wake of Covid19.