Secretary to the Treasury Fredson Yamba announces Ministry of Finance (MoF) commencement of preparations for the 2021-2023 Medium Term Expenditure Framework (MTEF) and the 2021 National Budget
Secretary to the Treasury Fredson Yamba with Finance Minister Bwalya Ng’andu on Wednesday 12th February 2020
Ministry of Finance
www.mof.gov.zm
CALL FOR 2021 NATIONAL BUDGET SUBMISSIONS
LUSAKA, 7 JUNE 2020: The Secretary to the Treasury announces that the Ministry of Finance has commenced preparations for the 2021-2023 Medium Term Expenditure Framework (MTEF) and the 2021 National Budget.
This is being done alongside the current process of revising the 2020 National Budget which has gravely been impacted by the effects of Covid-19 on the domestic and international economy.
In order to ensure broad-based consultations, the Secretary to the Treasury calls 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.
This earnest appeal to the public to embrace this gesture 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, and creating an enabling environment for business; employment creation; wealth generation; and, a sustainable future for all.
The national budget is an important policy tool because it is rooted in the assessment of the impact of previous and current domestic and international events on the economy, in setting the direction of the economy in its year of implementation.
Therefore, to ensure that a focused and participatory approach is adopted in developing the 2021-2023 Medium Term Expenditure Framework and the 2021 National Budget, the Secretary to the Treasury wishes to encourage citizens and other stakeholders to follow the guidelines below when making their submissions:
1) Outline the pitfalls of the current tax and non-tax policy regime and explain how local businesses and other development affairs are negatively impacted as a result;
2) Clearly state the sector or policy area of interest for which remedies or stimuli are sought and whether such remedies or stimuli relate to policy, strategy, programme, tax, or non-tax measures; and,
3) Justify why the Government should undertake the suggested measures. In addition, clearly state the expected positive impact, thereof.
All submissions will be considered objectively and on merit. As a way of enhancing the consultative process, the inter-ministerial Tax Policy Review Committee will, where necessary, invite those who will submit proposals for further discussions or clarifications on any issue in their submissions.
Secretary to the Treasury Fredson Yamba listens to Finance Minister Bwalya Ngandu Thursdat 2nd Jan 2020
The Secretary to the Treasury has also confirmed that the Tax Policy Review Committee will undertake country-wide engagements in all the provinces to ensure that as many stakeholders as possible are involved in this open and transparent process of developing the 2021 National Budget.
A considerable 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. Key reference documents in the consultation process are the Seventh National Development Plan and the 2021 Budget.
Issued by:
Chileshe Kandeta
Spokesperson
MINISTRY OF FINANCE
Ministry of Finance (MoF) Zambia Spokesperson Chileshe-Kandeta
