INCREASE TAX ON CHEMICAL FERTILISER PRODUCTION IN 2024 BUDGET-ACTIONAIDÂ
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ActionAid Zambia has proposed to the government to increase tax of income from chemical fertiliser production so discourage soil acidification and soil crust.
Chemicals fertilisers also reduce the content of organic matter in the soil.
In it's submission to the ongoing 2024 budget consultations by the ministry of finance, ActionAid suggested that production of organic fertilisers should instead be encouraged.
On the mining sector, the organisation has proposed for the introduction of a 15 percent Withholding Tax on dividends paid by mining companies to individual shareholders.
ActionAid Head of Programs Musonda Kabinga made the presentation.
He said the introduction of withholding tax will lead to increase tax revenue collection from the mining sector.
The organisation has proposed a reduction in Pay As You Earn (PAYE) topline threshold from the current 37.5 percent to 30 percent.