THE Zambia Federation of Employers (ZFE) has described the Statutory instrumental on the NAPSA penalty waiver as a serious relief to employers.
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Cabinet has approved the issuance of the National Pension Scheme (Penalty Waiver) Regulations, 2023, aimed at reducing the debt burden for businesses and allow employers to clear their outstanding dues with NAPSA with the incentive that part of the debt will be written off.
ZFE Executive Director Harrington Chibanda says most of the non-remittance of statutory obligations is due to lack of cash flows by company’s dues to the challenging economic status.
Mr Chibanda says the SI will come as a serious relief to most employers and that it is long overdue as it will ease the burden of non-remittance.
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