HH Condemns PF’s ‘Poisonous’ Tax Policy
The leader of the opposition has stated that the pending job losses, mining and business closures are going to cause serious misery for Zambians. He has pointed the blame solely at the PF governments incompetence and lack of business competence.
Hakainde Hichilema has noted that the heavy tax burdens PF are putting on the country are already having seriously negative impacts on the country and threaten Zambia’s financial future. Two of the country’s largest mining companies FQM and Verdanta have in the last week announced that they will have to scale back operations as the PF’s tax policy have made business untenable.
“From the vantage point of knowledge, we, HH, UPND and other experts, have for a long time rendered free advice that multiple and excessive taxes injure both our people and the economy alike but this greedy and corrupt PF leadership is not listening. For a long time now, this is what some of us knew would happen sooner or later. It is called ‘vision or ichimonwa’ which PF lacks in a large measure”, Mr. Hichilema said.
“The resultant effect of this negative development includes huge job losses in an economy which overall is not creating new jobs for the youth and other citizens who need income the most. For instance: (a) Konkola Copper Mines (KCM), Chingola – The ill-conceived newly introduced 5% import duty on concentrates will result in the scale down of operations at the KCM plant in Chingola”, He added.
The veteran opposition leader made it clear that the UPND will lower the tax burden, for people and business, including removing the 5% import duty on concentrates. In addition, he has stated they will remove withholding tax on rentals and other unnecessary taxes, licences and levies. In addition he committed to drop the multiple/compound effect sales tax and revert to VAT at reduced rates and lower both the cost of living and doing business by reducing, the cost of fuel, reducing the cost of electricity, among other cost reduction measures.
“In the UPND, we believe that it is not possible to achieve any meaningful and sustainable job creation, business growth and economic development when a government (like the PF one has done) takes money/resources (through over taxation and corruption) away from the efficient hands of individual citizens and businesses and places it into the hands of a few (greedy and corrupt ) PF officials and politicians who are inherently incapable of exercising any kind of honest and prudence in resource utilisation or management”, he added.
Mr. Hichilema has since urged Zambians across the country to unite in supporting the UPND team and other citizens of goodwill for them to take the country out of the PF inflicted damage and pain.