Govt to present National Budget on November 11

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The national Budget will be presented on Friday, November 11, 2016 to Parliament by Finance Minister, Felix Mutati.
According to a press release made available to ZANIS by Ministry of Finance Head of Media and Public Relations, Chileshe Kandeta,, the earmarked budget will be the first annual plan under the economic
stabilisation and recovery programme being developed by the government.
Mr Kandeta said in the coming days before the 2017 budget presentation ceremony, the Ministry of Finance will be finalising consultations and conduct validation.
He said the ministry will further employ integrity and consistency checks in the proposed policies, programs, activities, and revenue and expenditure measures before the budget date.
Mr Kandeta stated that a special purpose team will be assembled and tasked to commence the drafting of the budget speech to be presented for consideration by Cabinet before its final presentation to Parliament.

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  1. WHY ZAMBIA HAS BECOME A PERPETUAL BORROWING NATION! PART 1

    1. HAVING A WEAK TAX COLLECTION AND MANAGEMENT BODY

    Zambia is richly blessed with abundant natural resources that include among others mineral resources, but the over dependence on copper revenue for the economic development of the country has left much to be desired. This is unsustainable as due to the fluctuation in the copper market in most cases, it has plunged the nation into deficit budgets

    Those working in the informal sector of Zambian economy do not see the need to pay tax whereas they dominate the economy. To them only, civil servants should pay tax on their earnings and this amount to over flogging the willing horse. Besides, the activities of the strong union in the formal sector do not even pave way for a successful tax policy implementation in the formal sector. Even revenue collection officers seem to be lenient or even connive with those in the informal sector during enforcement of tax policies. All this leads to revenue loss. There is no doubt that taxation must have affected the economic development of Zambia.

    Most foreigners do not pay Tax and yet they form the greater part of the informal sector. We have weak monetary body (BOZ) that cannot give the nation just how much forex leaves the country undocumented due to weak legislation and monitoring. Foreign change millions of dollars in Bureaus and are only given the maximum daily limits.

    SOLUTION
    1. All shops must stop issuing hand written receipts
    2. Banking must be enforced as this will give the clear picture of how much money is being made by various businesses.

    More solutions can be found on a paper that has been prepared by Charles Chanda for the United Prosperous and Peaceful Zambia.

    Zambia as a Christian nation must claim this promise:

    Deuteronomy 15:6
    For the LORD thy God blesseth thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow; and thou shalt reign over many nations, but they shall not reign over thee.

    https://www.facebook.com/United-Prosperous-Peaceful-Zambia-1774535199456208/?hc_ref=PAGES_TIMELINE&fref=nf

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