On Thursday 25 July 2024, the Minister of finance presented the mid-term fiscal policy review statement for Parliament’s considerations. Whilst these are proposals, it is important for businesses to strategically place themselves from an informed point of view.
Some of the proposals include but are not limited to the following:
1.Kapenta , live poultry and bovine semen to be exempted from VAT.
- Fuel traders to fully fiscalise their operations.
- Informal traders to pay presumptive tax in local currency
- Self-employed professionals to be excluded from presumptive tax
- Tax compliance a requirement for VAT deferment and other concessions
- Two periods of assessment for 2024 PAYE
- QPDs may be payable in ZiG for USD traders
