The Tonse Alliance led administration has reversed its decision to effect the increment of tax free band for low income earners from MK45, 000 to Mk100, 000.
In his Provisional Budget for the period of four months in Parliament recently, Minister of Finance Felix Mlusu said the new tax measure was with immediate effect from the month of July, 2020.
To the contrary, a Press statement signed by Peterson Ponderani from the office of the Treasury General said the new measure will only take effect after amending the Taxation Bill.
“These tax policy measures will, however, become effective once the enabling Taxation Amendment Bill is presented, deliberated upon and passed by the parliament,” reads the statement in part
Meanwhile, it is now clear on when the Parliament will meet to deliberate on the Taxation Amendment Bill.
