Tax hikes made outside the Budget
Amb. Emmanuel Mwamba wrote;
PricewaterhouseCoopers (PwC) in its full 2025 Illustrative 2025 Budget Analysis, the Zambia Revenue Authority (ZRA), the Zambia Institute for Policy Analysis and Research (ZIPAR) and the Ministry of Finance all did not highlight or mention these drastic tax changes that have recently been introduced.
These recent tax changes are probably as a result of the second supplementary budget or emergency adjustments made to the National Borrowing Plan.
The Speaker of the National Assembly, Nelly Mutti, recently summoned a special sitting of Parliament to deliberate on the Report of the Planning and Budgeting Committee regarding the Revised Annual Borrowing Plan for 2024.
Here are the new hiked taxes:
1. Property transfer tax rate on sale of land, buildings and shares increased to 8% from 5%
2. Rental income tax rate increased to 16% from 12.5% for anyone earning rental income of above K800,000 per annum.
3. Turnover tax rate increased to 5% from 4%.
4. More businesses to be relegated to Turnover Tax from Income Tax as the turnover threshold has been increased to K5million from K800,000 per annum.
5. If the Minister of Finance does not issue an SI to align the VAT registration turnover threshold to K5million per annum, then it would be possible for a single business to be on both VAT and Turnover Tax at the same time.
6. Mobile Money Levy to be applicable on Bank to Wallet Transfers, if the Minister of Finance does not issue an SI to provide for Exemptions. Meaning, Banks would need to begin accounting for this tax on bank to wallet transfers and remit to ZRA.
This budget came at a critical time as Zambia faced severe climate change impacts, Load-shedding, inflation, economic challenges, and ambitious growth targets amidst resource constraints.
The 2025 national budget focused on “Building Resilience for Inclusive Growth and Improved Livelihoods,” aiming for a 6.6% GDP growth rate by prioritizing investments in mining, agriculture, and infrastructure, with a key focus on addressing the energy deficit through increased renewable energy sources, while also aimed to reduce inflation to 6-8% and maintain a budget deficit of 3.1% of GDP.
All these targets have fallen flat on the face of Musokotwane as the economy has tanked.
Mr. Mwamba look at the act that supports the changes.
Again I sometimes find the outbursts of this man just petty and immature. So you sole purpose in life is just to disrupt. Remember that is why you were sent in to the diplomatic service. Do you want the state to commence action against you for abuse of office? You came back at the state’s cost to campiagn for PF. Was that official duty? When you live in a glass house dont throw stone.
Parliament passed these acts and your own MPs may have voted for them for the greater good of Zambia.
And when you are arrested for inciting you say it persecution. How many people are in the thresh holds of the changes? Read what you suggest Mr. Mwamba? How many people who are struggling have a house with K 800,000 rentals per annum? Its people who have been making alot of money and not paying their fair share of taxes. Stop being malicious and look at what and where government will take this money. Its invested into Zambians and the youth to support programs to help those who may opt to join ZNS. They will walk away with a skill and either find work or start a business, mostly likely in the rural outposts of Zambia where development has lagged. Stop being retrogressive Mwamba fyako fimbi yaka ku bepa. You dont even state that these are now acts of law. Not just SIs as you want to suggest.
Did he pay any taxes on the money he has hidden away in Panama?
Do we even know how he managed to transfer that money out of the country?
Do his relatives pay taxes on the gold mines they now own in Mkushi?
Increasing taxes to cover up his incompetence will result in job losses.
Did you know that foreign investors are leaving Zambia to invest in Zimbabwe now?
I have had to lay off 50 percent of staff across my businesses in Zambia since 2021 because of costs. So many families have been affected.
Vote wisely in 2026.
Keep dreaming together with your E. M.
You will never get it rght!
Mukafa chabe mudadaula while others are enjoying at Plot 1.
Hate him, frame up cheap propaganda he will remain your President.
Unfortunately until 2031.
Sorry for the discomfort but you have to live with it.
Stop addressing these people as, honorable Dino fimo or ambassador what what…this is retrogressive of the highest order. No wonder they feel so important for nothing. Lubinda ati ba honourable, Nakachinda ati ba honourable for what..for thieving and bad mouthing all the time..?? Do you address Nevers Mumba as ambassador even though he was at some point..? Just say Emmanuel Mwamba or former Ambassador to shani shani uko…. Please just stop it. Journalism has far changed and advanced so
much that you have to do away with such decorum. If you called him Emmanuel Mwamba he will still answer because that’s his name. Utuma title pa Zambia that’s the problem.
The same goes for Honorary doctorates, just Kalaba by his name period. From CK to Kalaba ati ba doctor kwisa uko tamwa joba nakalya. Just pure empty tins.
Look at the incumbent President HH, he never misuses the title because it is simply honorary even though his PhD comes from a recognized and distinguished institution. Unlike the bought ones…!
As for the opposition, it’s HH till 2031. And hopefully by then someone in good standing will be able to take over from there and do better for the country. Zambia needs that continuity. Namuchepa ba opposition. You are all like monkeys jumping from one branch to the other. Even at funerals, you see an opportunity to sell your ill gotten wealth. Sell ideas to the electorate should be your motive to have any slightest chance to govern after 2031. For now it’s the UPND led by an incredible morally upright and educated Christian Pres. HH. Kwasila.