Sun, 01 Oct 2017 09:40:28 +0000 By Kingsley Chanda, ZRA Commissioner General Iam pleased to present an overview of the major changes in the tax legislation and other relevant information as announced by the Minister of Finance in his Annual National Budget Address to the National Assembly for the fiscal year 1 January, 2018 to 31 December, 2018. The overview gives a guide on the measures announced in the Budget as reflected in the various Bills, Statutory Instruments and Commissioner General’s Rules that contain the enabling legislation. The details are contained in the published legislation. It is important to note that some measures in this pamphlet are subject to Parliamentary approval. DIRECT TAXES 1.1 CONCESSIONS MEASURES 1.1.1 Remove the Insurance Premium Levy on re-insurance. This measure is intended to streamline taxation of insurance products. This will enhance insurance risk management for both the insured and the insurer and ultimately spur growth of the insurance […]
