Implementation of K100,000 tax free band delayed

The Ministry of Finance says the K100, 000 tax free band will not become effective this month.

This is according to the press release signed by Peterson Ponderani who is Acting Secretary to the Treasury.

According to Ponderani, the tax measure will become effective once the necessary law becomes effective.

“The tax policy measures will, however, become effective once enabling Taxation Amendment Bill is presented, deliberated upon and passed by parliament at its next budget sitting. The general public may wish to note that the National Assembly did not have ample time to deliberate and pass the taxation amendment bill before adjourning sine die,” said Ponderani.

Last week, Minister of Finance Felix Mlusu told the August house during his budget presentation that the government has increased the tax free band from K45,000 to K100,000.

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