Power and Politics

Golden Party of Zambia speaks on need to lower taxes, cost of living (Video)


Golden Party of Zambia leader, Jackson Silavwe, says it is now practically impossible for the government to reduce the high cost of living in the country

Silavwe in a statement issued in Lusaka on Sunday stated that a modern economy grows when people spend money but that, however, it was evident government had failed to do this.

He proposed that to provide relief, President Hakainde Hichilema’s government should give ordinary Zambians and companies more spending power to afford the record high cost of living and doing business.

“Flood the economy with money, reduce Pay As You Earn (PAYE) and other individual related taxes, lower businesses related taxes and statutory obligations,” Silavwe suggested.

He called on government to scrap off selected council levies and combine some of them and give incentives to local small and medium Zambian companies who have employed fellow Zambians.

The Golden Party of Zambia leader, stated that no local business should be closed for failing to pay taxes or council levies and government should consider removing tax holidays for foreign companies.

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“Lower company tax for all companies both local and foreign to increase tax compliance,” Silavwe advised.

He called for the introduction of new laws against transfer pricing and review all the existing tax treaties with tax haven countries.

Silavwe noted the need to have a solid, clear and aggressive approach to move the economy from foreign dependency to local economic development (LED) in all sectors.

“We cannot surrender ourselves to the analogy that it is “happening everywhere “and do nothing. Our leaders, Our Government must respond,” he said.

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