Maravi

Judge asks ZRA to educate public on variable profits tax

Judge asks ZRA to educate public on variable profits tax
By By Abigail Chaponda in Ndola
Sun 16 Jan. 2011, 03:59 CAT

NDOLA Judge-in-Charge Munalula Lisimba has requested ZRA to educate the public on variable profits tax and give reasons why it is more preferable in Zambia than windfall tax.

During the ZRA Copperbelt sensitisation workshop for the Judiciary at Mukuba Hotel in Ndola yesterday, judge Lisimba said taxes were important not only to the government that needs to raise the revenue to finance its operations but also to people who benefit from the revenue collected. He said there could be little or no economic advancement without taxes.

“I am aware that taxation is a highly specialised area and I hope this workshop will help to augment our knowledge in taxation matters. May I take this opportunity to request the Commissioner General to also educate us on the subject of variable profits tax and comment on the reasons why it is more preferable in our country than the windfall tax especially against the back-drop of increased copper prices on the London Metal Exchange,” he said.

Judge Lisimba also observed that the High Court, especially at Ndola, was receiving few appeals on the tax assessments from the tax appeal court in terms of Section 111 of the income tax Act, cap 321.

“I can only surmise that this is attributable to the excellent manner in which the Commissioner General does his assessments which give little or no room for objections from taxpayers,” said judge Lisimba.

And ZRA board chairman Christopher Mundia said since the establishment of ZRA, a number of reforms had been implemented.

Mundia said the initial set of reforms focused on developing systems, infrastructure and capacities in order to have effective administration of the legislation in tax laws.

Labels: CHRISTOPHER MUNDIA, TAXATION, WINDFALL TAX, ZRA

posted by MrK @ 8:16 AM