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The 2021 National Budget preparations begins

Filed under: Breaking News,Business |
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New Kwacha notes

The Ministry of Finance has started preparations for the 2021 National Budget and the 2021-2023 Medium Term Expenditure Framework.

The process is being done along side the current process of revising the 2020 National Budget amid the effects of Covid-19 on the domestic and international economy and the falling in value of the local currency.

In a press statement, issued by Spokesperson Chileshe Kandeta, the Secretary to the Treasury Fredson Yamba has called on the general public, companies and non-state actors to make proposals on tax and non-tax policies for possible inclusion in the 2021 National Budget.

Yamba said participation of the public and various stakeholders is in the spirit of ensuring that consultations on the 2021 national budget are broadened in line with the government’s policy of streamlining taxation.

The move is also aimed at creating an enabling environment for business and employment creation, wealth generation and a sustainable future for all, he said.

Yamba encouraged citizens and other stakeholders to follow the guidelines when making their submissions.

Among the guidelines outlined include the pitfalls of the current tax and non-tax policy regime and explain how local businesses and other development affairs are negatively impacted among other issues.

He said a consultation period ending on 31st July, 2020 has been set to ensure that all citizens, including the youth, women groups, the private sector, and all other stakeholders and interest groups participate in the formulation of the 2021 Budget.

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