Zambia: Budget for 2016

Zambia: Budget for 2016

Zambia’s budget for 2016 was presented 9 October 2015.

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In the budget speech, it was noted that Zambia faced macro-economic challenges in 2015, as the global slowdown led to a reduction in the demand for copper and a weaker copper price. 

Proposed expenditures for 2016 include continued infrastructure development, as well as general public services including increased civil service wages. The cost of servicing domestic and external debt also would increase.

Concerning taxes:

  • Relief has been proposed for alternative energy generation projects.
  • The property transfer tax on land and shares would be reduced to 5% (from 10%). 
  • The excise tax (duty) on “clear beer” would be reduced from 60% to 40%.  
  • A number of changes concern customs and excise duties in an effort to encourage local value chain creation would be proposed.

 

Read an October 2015 report prepared by the KPMG member firm in Zambia: 2016 Budget Highlights

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