By BUUMBA CHIMBULUGOVERNMENT should relax penalties for non-compliance on tax returns for the next two months as most companies will be unable to meet their statutory deadlines, says Zambia Association of Manufacturers (ZAM).ZAM vice president for South, Chipego Zulu, lobbied Government to provide a two months grace period for submissions of tax returns by companies.“We propose the relaxation of compliance with statutory deadlines for next two months. That is to provide grace period to enable compliance.“This is arising from penalties due to companies being unable to meet statutory deadlines for submissions of tax returns,” Ms Zulu said in an interview.Value Added Tax is due on the 18, withholding tax on 14, PAYE/NAPSA on 10, income Tax on 21 and excise duty on15 of every month.Ms Zulu also suggested that Government should ensure that the Zambia Revenue Authority did not implement arbitrary taxes, insisting that consultation was cardinal.She said major regulatory changes should be subjected to […]
Relax tax returns deadline – MAZ
