CONSISTENT TAX POLICY DRIVES ECONOMIC GROWTH – FINANCE MINISTER

Finance and National Planning Minister Dr. Situmbeko Musokotwane says consistent tax policies are essential tools for financing Zambia’s national development goals.

Dr. Musokotwane was speaking at the Symposium on the 2026 Budget organised in Lusaka this morning.

He said tax policies, combined with prudent public expenditure, are critical interventions for supporting economic growth and job creation.

The Minister also emphasised the importance of stability in taxation and policy frameworks, noting that fluctuations may discourage investors.

He said Government is committed to maintaining a consistent tax administration system.

Meanwhile, the Zambia Revenue Authority (ZRA) Commissioner General Dingani Banda, says the Authority’s revenue target in 2026 is set at K185 billion, representing at least 20% of the projected Gross Domestic Product (GDP) of K923.7 billion.

Mr. Banda says the target requires improved compliance and a focused approach to increase revenue collection.

“We need to understand the importance of paying taxes, as they are crucial for attracting investments to Zambia,” he said.

Mr. Banda also emphasized the importance of taxpayer participation in tax administration, urging citizens to always demand a receipt in shops, reinforcing the collective responsibility to enhance tax compliance.