Maravi

Govt will reduce personal tax every year, says Sampa

Govt will reduce personal tax every year, says Sampa
By Henry Sinyangwe
Thu 18 Oct. 2012, 11:59 CAT

THE PF government has an agony of reducing personal tax every year, says finance deputy minister Miles Sampa. And Sampa says the government is strengthening checks to curb cheating among foreign mining firms operating in the country.

During the KPMG post - 2013 budget discussion breakfast yesterday at Radisson Blu HoteloH, Sampa said the government would continue lowering taxes to ensure more money in line with the PF's campaign slogan of more money in people's pockets.

"The agony that the PF government has found itself in is immediately taking over power and having to lower the taxes," Sampa. "We found the tax threshold at 800, 000, raised it to K2 million and now it is at K2.2 million and we will continue doing this every year until we are satisfied with the threshold," Sampa said.

And Sampa said that government was setting up mechanisms that would enable the country benefit more from the mines. He said the PF's focus was to continue maximising collection of revenue from the mines rather than increasing taxes.

"Windfall tax which some people are calling for is not the only source of income from the mines… We will closely monitor the mines in terms of them repatriating their profits," Sampa said.

"That is still on the drawing table and we are in a consultative process with all the players, the mines and all the interested parties and looking through the legal implications and otherwise."

Labels: 2013 BUDGET (ZM), MILES SAMPA, TAXATION, WINDFALL TAX

posted by MrK @ 8:03 PM