Taxation amendment bill passed

Parliament has passed the taxation amendment bill which seeks to implement the 100 000 kwacha tax free threshold bracket effective October 2020.

The bill was passed on Monday 19 October 2020 without any amendments

Then the national assembly passed the Value added tax on cooking oil which was re-introduced by Tonse government.

Commenting on the tax DPP finance spokesperson Joseph Mwanamvekha has asked the minister of finance to re- visit the reasons for the re-introduction saying it affects nutrition efforts.

“The re-introduction will also affect small and medium entrepreneurs as they will be forced to increase their prices,” said Mwanamveka

In his remarks, UDF finance spokesperson, Lillian Patel concurred with Mwanamvekha saying the move will harm both farmers and producers.

DPP government removed the Value Added Tax on cooking oil in 2017.