Opposition New Heritage Party President, Chishala Kateka, has urged government to give a tax holiday to Small and Medium Enterprises (SMEs), for them to recover the amounts lost due to increased power rationing that Zambia is experiencing.
Ms. Kateka’s comment is a reactions to the Zambia Revenue Authority (ZRA)’s projected K155 billion in taxes, to be raised locally in 2025, saying this will be squeezed from already struggling SMEs.
She said other measures that can resuscitate the SMEs include both ZRA and NAPSA waiving penalties on late payments, until the power situation normalizes.
Ms. Kateka also suggested creating a dedicated relief fund along the lines of a disaster fund to help the SMEs.
“CEEC and the banks are not tailored to meet the needs of the SMEs,” she observed.
She reiterated that the Constituency Development Fund (CDF) which is being used for non-critical issues can be greatly reduced or put on hold until the economy is stabilized.
By Eva Hatontola
